CMC Markets Plc CMC Markets response to FCA Consultation Paper (0946R)
December 06 2016 - 5:27AM
UK Regulatory
TIDMCMCX
RNS Number : 0946R
CMC Markets Plc
06 December 2016
6 December 2016
CMC MARKETS PLC
Response to FCA Consultation Paper
CMC Markets plc ("CMC") notes this morning's announcement by the
FCA of a consultation on measures designed to enhance consumer
protection in the CFD market. CMC shares a common desire to see a
uniform application of the highest standards of conduct across the
industry.
In its consultation paper, numbered CP16/40, the FCA has
identified the risks to inexperienced retail investors posed by
firms with a business model predicated on high churn of clients
with a high loss rate. CMC has consistently focused on higher-value
experienced premium clients who understand the markets and products
they are trading. Furthermore, an integral part of CMC's "client
first" proposition over the last five years is ongoing client
education about markets, products and associated risks. CMC's
business model and ongoing strategy is focused on generating
revenue from client trading costs and therefore believes in
establishing long-term client relationships.
CMC recognises that in its consultation paper the FCA is
endeavouring to ensure that any regulation is delivered in a
balanced fashion and looks forward to working closely with the FCA
over the coming months.
Media enquiries
Camarco
Geoffrey Pelham-Lane/Ed Gascoigne-Pees/Jennifer Renwick Tel: 020
3757 4994
Notes to Editors
CMC Markets plc ("CMC"), whose shares are listed on the London
Stock Exchange under the ticker CMCX, was established in 1989 and
is now one of the world's leading online financial trading
businesses. The company serves retail and institutional clients
through regulated offices and branches in 14 countries, with a
significant presence in the UK, Australia, Germany and Singapore.
CMC Markets offers an award-winning, online and mobile trading
platform, enabling clients to trade over 10,000 financial
instruments across shares, indices, foreign currencies, commodities
and treasuries through contracts for difference ("CFDs") and
financial spread bets (in the UK and Ireland only). Clients can
also place financial binary bets through Countdowns and, in
Australia, access stockbroking services. More information is
available at http://www.cmcmarkets.com/group/
This information is provided by RNS
The company news service from the London Stock Exchange
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