CMC Markets Enhances Compliance Tech with New Partnership

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In a move
to set new standards for MiFID II transaction reporting compliance in the
financial industry, the publicly listed broker CMC Markets has announced a new
partnership with AQMetrics, a regulatory technology provider.

The
partners will bring together AQMetrics’ compliance solutions and CMC Markets’
market leadership, introducing an enhanced customer support model and advanced
technology features. These efforts seek to simplify regulatory complexity for
financial institutions navigating evolving reporting obligations .

“AQMetrics
brings a wealth of knowledge to the table, ensuring that CMC Markets and its
clients stay ahead of regulatory changes and requirements,” affirmed Adam
Harris, the Regulatory Reporting Manager at CMC Markets.

“AQMetrics
has demonstrated robust regulatory expertise, aligning seamlessly with CMC
Markets’ commitment to compliance excellence.”

The
partnership reflects increasing demands for financial services firms to have
robust, user-friendly compliance systems. As regulations become more complex,
many institutions struggle with manual reporting processes. AQMetrics’
customizable dashboards and real-time monitoring promise to alleviate these
pain points.

“Both
CMC Markets and AQMetrics are confident that this partnership will set new
industry standards for MiFID II Transaction Reporting,” said Olivier
Halimi, the General Manager of AQMetrics.

With
collaboration and technology taking center stage, the partners envision more
automated and streamlined regulatory compliance in the future.

CMC
recently issued an upbeat trading update for its 2024 financial year (FY24)
ending 31 March 2024. The company now expects to generate net operating income
of between £290 and 310 million for FY24, raised from its previous guidance of
£250 and 280 million
. This latest forecast comes after CMC Markets delivered a
strong performance in the third quarter of FY24, driven by an improvement in
market conditions and increased contribution from its B2B and institutional
business.

The revised
guidance follows a weak first half for CMC Markets in FY24. For H1 FY24, the
company reported a year-over-year decline of 20% in net operating revenue to
£122.6 million, which included a pre-tax loss of £2 million and negative basic
earnings per share of 0.8 pence. The trading net revenue, a major contributor
to total operating revenue, decreased 32% to £87.4 million.

Despite the
downturn in the first half, CMC Markets has benefited from long-term
investments in its B2B and institutional business, which helped drive robust
growth in Q3. This rebound in performance and forecasts should help slightly
improve recent sentiment after the earlier cut in guidance led to a stock price
decline and hit investor confidence.

Meanwhile,
CMC Markets is focusing growth efforts on the Asia-Pacific region. The
company recently appointed Kurt Mayell as the Head of CMC Markets Singapore,
bringing him over from the sister APAC entity. In his new role, Mayell will
spearhead the expansion of CMC’s CFD business in Singapore where the company
has offered these derivatives since 2017 under regulation from the Monetary
Authority of Singapore.

In a move
to set new standards for MiFID II transaction reporting compliance in the
financial industry, the publicly listed broker CMC Markets has announced a new
partnership with AQMetrics, a regulatory technology provider.

The
partners will bring together AQMetrics’ compliance solutions and CMC Markets’
market leadership, introducing an enhanced customer support model and advanced
technology features. These efforts seek to simplify regulatory complexity for
financial institutions navigating evolving reporting obligations .

“AQMetrics
brings a wealth of knowledge to the table, ensuring that CMC Markets and its
clients stay ahead of regulatory changes and requirements,” affirmed Adam
Harris, the Regulatory Reporting Manager at CMC Markets.

“AQMetrics
has demonstrated robust regulatory expertise, aligning seamlessly with CMC
Markets’ commitment to compliance excellence.”

The
partnership reflects increasing demands for financial services firms to have
robust, user-friendly compliance systems. As regulations become more complex,
many institutions struggle with manual reporting processes. AQMetrics’
customizable dashboards and real-time monitoring promise to alleviate these
pain points.

“Both
CMC Markets and AQMetrics are confident that this partnership will set new
industry standards for MiFID II Transaction Reporting,” said Olivier
Halimi, the General Manager of AQMetrics.

With
collaboration and technology taking center stage, the partners envision more
automated and streamlined regulatory compliance in the future.

CMC
recently issued an upbeat trading update for its 2024 financial year (FY24)
ending 31 March 2024. The company now expects to generate net operating income
of between £290 and 310 million for FY24, raised from its previous guidance of
£250 and 280 million
. This latest forecast comes after CMC Markets delivered a
strong performance in the third quarter of FY24, driven by an improvement in
market conditions and increased contribution from its B2B and institutional
business.

The revised
guidance follows a weak first half for CMC Markets in FY24. For H1 FY24, the
company reported a year-over-year decline of 20% in net operating revenue to
£122.6 million, which included a pre-tax loss of £2 million and negative basic
earnings per share of 0.8 pence. The trading net revenue, a major contributor
to total operating revenue, decreased 32% to £87.4 million.

Despite the
downturn in the first half, CMC Markets has benefited from long-term
investments in its B2B and institutional business, which helped drive robust
growth in Q3. This rebound in performance and forecasts should help slightly
improve recent sentiment after the earlier cut in guidance led to a stock price
decline and hit investor confidence.

Meanwhile,
CMC Markets is focusing growth efforts on the Asia-Pacific region. The
company recently appointed Kurt Mayell as the Head of CMC Markets Singapore,
bringing him over from the sister APAC entity. In his new role, Mayell will
spearhead the expansion of CMC’s CFD business in Singapore where the company
has offered these derivatives since 2017 under regulation from the Monetary
Authority of Singapore.

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