Business
CMC Markets welcomes BaFin consultation conclusion
CMC Markets welcomes BaFin consultation conclusion.
About this update from Cmc Markets Plc
[{"type":"text","content":"\n \nRNS Number : 5346E CMC Markets Plc 09 May 2017 \n\n9 May 2017\n \nCMC MARKETS PLC\n \nCMC Markets welcomes conclusion of BaFin consultation\n \nCMC Markets Plc (\"CMC\"), a leading global provider of retail CFD trading, welcomes the outcome of the BaFin regulatory consultation into the retail CFD industry in Germany which requires the implementation of negative balance protection, where clients cannot lose more than their account balance, by 10 August 2017.\n \nAs previously announced on 9 December 2016, CMC already offers negative balance protection through its market-leading, proprietary Next Generation platform, and therefore will comply with the BaFin proposals in full by the required deadline. There are no further changes for clients that have been proposed by BaFin, including no regulator-imposed limitations on margins. \n \nCMC is pleased that the BaFin has maintained the scope of the consultation and the speed at which any regulatory uncertainty in Germany has come to a close.\n \nCMC is already the market leader in Germany according to the independent Investment Trends survey and believes that the BaFin proposals will further enhance this position given the ease of technology implementation, focus on clients and customer service.\n \n \n-ENDS-\n \nEnquiries\nCMC Markets plc +44 (0)20 7170 8200\nGrant Foley, Chief Financial Officer\nCharlie Steel, Global Head of Corporate Development\nCraig Inglis, Head of Germany\nCamarco (Financial PR) &nbs...