CMC Markets Parts Ways with Jonathan Bradshaw after Ten Years

London-based trading provider CMC Markets ‎‎(LSE: CMCX) has just parted ways with its company secretary Jonathan Bradshaw. In a brokerage firm with low turnover, Bradshaw is one of the longest-serving executives who has remained on the job since he originally joined CMC Markets in October 2010.

No formal announcement has been made, but Jonathan confirmed to Finance Magnates that he leaves on good terms.

“I wanted a break after 9 years and go into a different industry. Was previously in software, then FS, now something else. CMC is a great place to work,” he added.

According to a filing with the UK companies’ registrar, a new secretary named Patrick Wolfe Davis has been appointed on February 27 to replace Bradshaw, whose career in finance spans more than two decades.

Bradshaw joined the spread-betting specialist after nearly 14 years with US-based Dealogic, which provides platforms for investment banks to conduct deals in the areas of fixed income, equity capital markets, and institutional sales.

Virus fears drive trading up

Earlier this month, CMC Markets said it had seen a significant uptick in trading activity following the Coronavirus Coronavirus The outbreak of Covid-19 or Coronavirus in early 2020 has since redefined the financial services industry. Brokers have been forced to quickly adapt to several changes, both positive and negative.This includes the FX industry, which saw surges in volumes across the retail and institutional space in Q1 2020. This trend can be explained by an outflow of volatility, coupled with countries taking major moves to stabilize their respective economies.In conjunction with uncertainty caused by the virus, The outbreak of Covid-19 or Coronavirus in early 2020 has since redefined the financial services industry. Brokers have been forced to quickly adapt to several changes, both positive and negative.This includes the FX industry, which saw surges in volumes across the retail and institutional space in Q1 2020. This trend can be explained by an outflow of volatility, coupled with countries taking major moves to stabilize their respective economies.In conjunction with uncertainty caused by the virus, Read this Term-inspired market Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, or stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Trad In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, or stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Trad Read this Term since the start of 2020.

As a result, CMC expects to deliver financial results for the year ending March 2020 ahead of market consensus, with its net operating income is set to beat the current estimate of £199 million to land somewhere above the $200 million mark. Plus500 also reported a significant increase in customer trading activity as coronavirus fears have heightened volumes.

CMC and its rivals like Plus500 and IG suffered throughout 2019 from ESMA’s tighter restrictions on the sale of leveraged products to retail investors, which had a less severe impact than initially anticipated. CMC Markets, however, tempered fears somewhat at this time, saying that the overall impact on profitability in the next years would be mitigated by tight cost controls.