Foreign exchange retail brokerage CMC Markets Plc (CMC) published today its latest trading update before the end of Q1 2016. According to the official information provided on the London Stock Exchange (LSE) website, the company will give full metrics for the previous year on Wednesday, June 8th.
LSE listed CMC (under the ticker CMCX) drew attention primarily to the strong growth in the number of active clients, which on a year-over-year basis (YoY) amounted to approximately 13%, translating simultaneously to average revenue growth generated by retail traders using the company’s services.
The latest results are in line with earlier forecasts, which was achievable due to the continuation of the higher Volatility that has been driving growth. The increased market activity is caused primarily by the current monetary policy actions of the Federal Reserve (Fed) and the European Central Bank (ECB), the downward trend seen on crude oil prices and the potential risk premium.
An official document entitled “Pre Close Trading Update” further states that CMC was able to make steady progress in many strategic zones of its business. The increase was recorded in terms of the core markets, international expansion, digital marketing, product innovation and its institutional customers offering.
In early February, Finance Magnates reported that CMC was valued at 700 million pounds after the initial public offering (IPO). The company’s shares were priced at 240 pence, closer to the bottom line of the IPO guidance which was between 235 and 275 pence per share. At the time of writing, CMC is valued slightly higher than during its LSE debut, at 252 pence.
