Business
CMC Markets - Interim Management Statement
CMC Markets - Interim Management Statement.
About this update from Cmc Markets Plc
[{"type":"text","content":"\n \nRNS Number : 7896E CMC Markets Plc 21 July 2016 \n\n21 July 2016\nInterim Management Statement\n \nCMC Markets plc, (LSE: CMCX, \"CMC\" or the \"Group\"), a leading global provider of online retail trading, today issues its interim management statement for the period from 1 April to 30 June 2016.\nThe Group continues to make good progress against its strategic plan since the start of the year, with continuing strong levels of active clients and client applications demonstrating the strength of the brand and the platform. Compared to the same period last year active clients increased by 13%, with strong growth in client applications and approved accounts. However, the value of client trades was lower in the quarter particularly leading up to the EU referendum, resulting in a moderate decrease in revenue per active client compared to the same period last year.\nDuring the quarter the group further demonstrated prudent risk management and proactively managed margins and as a result no losses were incurred through the high levels of volatility around the EU Referendum. The Group continues to maintain a strong regulatory capital and liquidity position.\nAs discussed at the time of the full year results, CMC anticipates no disruption to its business as a result of the referendum decision to leave the European Union. The costs of restructuring our offices to continue to service our European clients, should barriers be imposed on cross-border trading in the future, is not anticipated to make a material change to CMC's cost base. CMC's global headquarters will remain in London.\nProgress continues to be made on each of the Group's five strategic growth initiatives.\n1. Growth in established markets\nThe Group's three established markets have seen continuing levels of strong client acquisition. The recent Investment Trends survey in Germany has shown that the Group maintained its market leading position whilst also increasing share amongst high value clients. In Australia the Group increased its primary market share and remains the largest provider for high value clients with over a 30% market share.\n \n2. Digital initiatives\nThe Group continues to see encouraging progress and results as the digital programme is rolled out. The new website has been launched in ov...