London finance broker sees £25m client income increase

A London finance broker has announced a £25m increase in income over the past year.

CMC Markets has announced that it has generated client income of £241m, up from £216m last year.

The company said that technology has underpinned its strategy and has aided the increase in income.

Peter Cruddas, CEO of CMC, commented: “At CMC we have focused rigorously on our strategic priorities and feel that the benefit of this focus has started to come through in our performance this year which demonstrates a step change from where we were 12 months ago.

“Our institutional offering, targeting high quality clients and our change in risk management strategy have both contributed to strong underlying performance for the Group.

“Technology continues to be at the core of everything we do and underpins our strategy.

“This is shown in both the strength of our platform, which has been put to the test recently, and the data we have to adapt our offering and develop products that match our client needs.

“Looking forward, there are many new uncertainties, including how governments, regulators and exchanges will react.

“Notwithstanding the uncertainty we remain confident in the outlook for 2021 as we progress with our numerous strategic growth initiatives.

“We’re not reliant on a sustained period of high volatility in markets, but our well invested platform, technical expertise and diversified offering supports us delivering sustainable results not just now but also in years to come.”

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