In its latest trading update, UK registered broker CMC markets has indicated that their revenue performance has significantly improved for the first quarter of FY 2021. The broker indicated that client trading activity remained elevated at a level roughly twice the amount of the volume recorded last year and that net operating income for Q1 2021 is higher than that reported in H1 2020 at £102.3 million.
The broker stated that: “our investment in technology continues to attract and retain clients, with market leading functionality and robust operational performance through these extremely high volume periods. Client acquisition and active client numbers remain at elevated levels.”
The company also mentioned that acquisition and active client numbers remain at elevated levels and that client income retention for the period is materially higher than the 82% reported in H1 2020 and stockbroking net trading revenue also continues to benefit from the market conditions. As such, CMC Markets continue to outperform in terms of key metrics and we will look to study future performance to see if the increased trader activity holds up in the long run as calendar year 2020 moves on and the broker reports new quarterly figures later in the year.