CMC Markets Plc ANZ Share Investing client base transitions to CMC (9155L)
September 16 2021 - 12:59AM
UK Regulatory
TIDMCMCX
RNS Number : 9155L
CMC Markets Plc
16 September 2021
16(th) September 2021
CMC Markets Plc
ANZ's Share Investing client base transitions to CMC
CMC Markets Plc ("CMC" or the "Group"), a leading global
provider of online trading and institutional ("B2B") platform
solutions, today announces the transition of Australia and New
Zealand Banking Group Limited's ("ANZ") Share Investing client base
to CMC for a sum of AUD$25m (the "Transaction").
The Transaction involves the transition of over 500,000 ANZ
Share Investing clients, with total assets in excess of AUD$45
billion. The AUD$25m consideration will be funded from the Group's
existing cash resources. The Transaction is another significant
step in the ongoing diversification of the Group's global business
and in the Australian market at a time when we are seeing elevated
demand for retail stockbroking services.
With this Transaction, the existing white label technology
partnership, which has seen CMC's trading technology power ANZ's
share investing business since 2018, will come to an end. The
existing white label partnership generated GBP39.5 million in net
trading revenue for CMC in FY 2021. T he CMC platform will offer
clients a wide range of additional benefits currently unavailable
with ANZ. These include access to enhanced, market-leading mobile
apps and complementary education tools and resources. Following
transition, ANZ Share Investing clients will benefit from lower
brokerage charges across four major international markets and the
local Australian market and will give CMC the opportunity to drive
greater value from its enlarged client base.
The Transaction further establishes CMC as a financial
technology leader in the Australian market and removes the
uncertainty around the finite term of the existing ANZ white label
partnership. The Transaction is expected to take 12 to 18 months to
fully transition clients.
Lord Cruddas, Chief Executive Officer, commented:
"This transaction is part of our strategy to create a
non-leveraged investment platform and forms part of our longer-term
goals for the company. As this new venture expands and develops, we
will be able to offer more products, including third party funds
and tax wrappers, directly to our clients. This is a further step
towards the diversification of CMC's earnings and complements the
launch of our new investment platform in the UK, aligning our
business strategy across our core geographies."
"I would like to take this opportunity to extend a warm welcome
to our new share investing clients, and also thank our colleagues
at ANZ Bank, with whom we have worked closely over the last three
years to put clients' needs first."
Forward looking statements
This trading update may include statements that are forward
looking in nature. Forward looking statements involve known and
unknown risks, assumptions, uncertainties, and other factors which
may cause the actual results, performance, or achievements of the
Group to be materially different from any future results,
performance or achievements expressed or implied by such forward
looking statements. Except as required by the Listing Rules and
applicable law, the Group undertakes no obligation to update,
revise or change any forward looking statements to reflect events
or developments occurring after the date such statements are
published.
Enquiries
CMC Markets Plc
James Cartwright, Investor Relations
investor.relations@cmcmarkets.com
Euan Marshall, Chief Financial Officer
Matthew Lewis, Head of Asia Pacific and Canada
Camarco +44 (0) 20 3757 4994
Geoffrey Pelham-Lane
Jennifer Renwick
Notes to Editors
CMC Markets plc ("CMC"), whose shares are listed on the London
Stock Exchange under the ticker CMCX (LEI: 213800VB75KAZBFH5U07),
was established in 1989 and is now one of the world's leading
online financial trading businesses. The Group serves retail and
institutional clients through regulated offices and branches in 12
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 up to 10,000
financial instruments across shares, indices, foreign currencies,
commodities and treasuries through contracts for difference
("CFDs"), financial spread bets (in the UK and Ireland only) and,
in Australia, access stockbroking services. More information is
available at http://www.cmcmarkets.com/group/
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