FILE PHOTO: Financial traders work at their desks at CMC Markets in the City of London, Britain, April 11, 2019. REUTERS/Peter Nicholls/File Photo
July 25, 2019
(Reuters) – Online trading firm CMC Markets Plc <CMCX.L> said first-quarter net operating income improved from a year earlier, boosted by higher revenue per active client as traders adjusted to regulatory curbs that have plagued the sector.
“Client trading activity in our CFD (contract for difference) and spreadbet business has now stabilized as clients adapt to the new regulatory changes,” Chief Executive Officer Peter Cruddas said.
The company and its rivals, Plus500 Ltd <PLUSP.L> and IG Group <IGG.L>, have had to weather a drop in client numbers over the past year as regulators in Europe and Britain tightened the rules on products that allowed anyone with a bank card to make highly-leveraged bets on financial markets.
(Reporting by Muvija M in Bengaluru; Editing by Shounak Dasgupta)
