Business
Westpac and CMC Extend Strategic Relationship
CMC Markets Stockbroking has been selected as the preferred vendor to extend its technology and platform relationship with Westpac Banking Corporation in Australia. This arrangement will provide Westpac and St.George share trading customers access to CMC's technology via branded web and mobile platforms. Integration is expected to take approximately 12 months, with associated costs largely capitalised. CMC Markets Stockbroking manages over A$90 billion in assets under administration and serves more than 1.2 million share trading accounts. Post-integration, CMC anticipates servicing approximately 40% more customers, leading to an approximate 45% increase in domestic volumes. Disclaimer*
About this update from Cmc Markets Plc
[{"type":"text","content":"\n\n29 September 2025\n \nCMC MARKETS PLC\n(\"CMC\" the \"Group\" or the \"Company\")\n \nStrategic relationship with Westpac Banking Corporation (\"Westpac\")\n \nWestpac and CMC extend strategic relationship in Australia\n \nCMC Markets Stockbroking has been selected as the preferred vendor extending its strategic long-term technology and platform relationship with Westpac Banking Corporation (WBC.ASX), one of Australia's largest banking institutions. This arrangement relates to Westpac's online share trading services, Westpac Share Trading (WST) and St.George Directshares (DS).\nFollowing an integration period, CMC will provide Westpac and St.George share trading customers with access to leading technology and execution via branded web and mobile white label platforms, including integration with the Bank's current technology offering. Integration is expected to take approximately 12 months, with the associated costs expected to be largely capitalised with revenue upside proving meaningful to our Australian CMC Invest business.\nOn an ongoing basis, the cost impact is expected to be incremental as the Group leverages existing technology, scale and experience to deliver a best-in-class service to the Bank and its valued customers.\nWestpac and St.George customers will gain access to CMC's award-winning trading technology across mobile and desktop platforms, with access to global markets, comprehensive market analysis, trading tools and all future roadmap deliveries.\nAs Australia's second-largest stockbroking firm, CMC Markets Stockbroking manages over A$90 billion in assets under administration and serves more than 1.2 million share trading accounts. This new arrangement will result in a meaningful increase in CMC's market presence which will see the business post integration servicing circa 40% more customers with increased domestic volumes of approximately 45%.\nThe transaction is not subject to any regulatory or shareholder approval.\nOverview of Westpac Banking Corporation\nWestpac ranks as one of Australia's largest banking institutions, serving approximately 13 million customers.\nCMC Markets Group CEO, Lord Peter Cruddas, commented:\n\"This is a significant and exciting opportunity for CMC Markets and continues our strong record in Australia in winning major technology partnerships with maj...