CMC Markets Connect, the institutional division of the brokerage group, announced on Wednesday the expansion of its services with the launch of FX spot trading.
The press release shared with Finance Magnates detailed that institutional traders on CMC’s platform will now have access to more than 60 spot Forex pairs and precious metals. In addition, the company has plans to expand its FX propositions over the next 12 months.
“In response to the demands of our expanding institutional client book, we have upgraded our technology stack to allow for faster price construction across a wider range of asset classes,” Richard Elston, CMC’s Group Head of Institutional, said.
Indeed, the institutional unit of the broker has partnered with Quod Financial to upgrade its execution infrastructure.
Focusing on Institutions
The London-listed group has been offering B2B services for the past two decades and is a significant Liquidity provider to several financial services platforms. But, it steered its focus heavily towards institutional offerings since the rebranding of its institutional division earlier this year.
Already being one of the top retail brokers, now the company’s aim is to leverage its market dominance to provide Tier 1 CFD liquidity to institutional clients. Earlier, Estonia-based Brokeree Solutions integrated CMC Connect’s liquidity into its offerings.
“This year we’ve set ourselves ambitious growth targets for the B2B arm of our business which we plan to achieve by servicing the needs of a greater range of institutional client types and their respective trading strategies,” said David Fineberg, Deputy CEO at CMC Markets.
Meanwhile, CMC is actively expanding its product range for retail investors. It remains quick enough to list the global hot stocks and introduced a ‘signature’ share basket of CFDs recently.
