CMC Markets plc (CMCX) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everybody, and welcome to our financial year 25 results presentation. My name is Peter Cruddas, and joining me today is David Feinberg, Lawrence Booth, and Matt Lewis. In terms of the agenda today, I will provide an exciting update on the future state of CMC. David will then cover the financials. Lawrence will provide a strategic update and Matt will speak on our D2C business before handing back to me to wrap up. So let's get started. Over the last 10 years or so, we have built a high performing business around two core verticals, direct to consumer and platform technology as a service or B2B. We have created a world-class multi-asset trading and investing journey for retail clients, delivering seamless 24-5 access across global markets. We have also scaled a powerful institutional-grade platform delivering execution, liquidity and trading infrastructure to fintechs, neobanks and established financial institutions. Together, this two vertical model has allowed us to diversify our revenue, broaden our global client base and enhance operational leverage. It has laid the foundation for sustainable long-term growth and it is the CMC that you see today. However, it is not the CMC you will see tomorrow. The financial world is changing and it is changing quickly. We are seeing profound shifts in how people access markets, how they invest, and what they expect from a trading platform. At the same time, new technologies are emerging that promise to reshape the future of finance entirely. What we built at CMC, our successful two vertical model, gives us a strong foundation. But standing still is not an option. That means rethinking how we operate, how we innovate and how we deliver value to our clients. This is our opportunity to shape what the next generation of...