27 July 2023

CMC MARKETS PLC 

Q1 2024 Trading Update

Q1 performance as expected; Net operating income tracking at a similar run rate to last year.

CMC Markets Plc ("CMC" or the "Group"), a leading global provider of online ("D2C") trading and ("B2B") platform technology, today issues a trading update for the period from 1 April 2023 to 30 June 2023 ("Q1 2024").

Q1 2024 Trading Update

Consistent with the Group's expectations announced on 13 June, quiet market conditions in the first quarter have resulted in a decline in client trading and investing activity of 15-20% year on year.  These conditions have continued into the start of Q2, however weaker client activity has been offset by stronger interest income, resulting in overall net operating income tracking at a similar run rate to the same period last year. Underlying KPIs including client money, assets under management, and active clients across both the trading and investing businesses remain robust.

The Group continues to focus on delivering a strong business performance for its financial year ending 31 March 2024, with investment plans and operating expenses excluding variable remuneration expected to be in line with prior guidance.

Progress towards new business growth across all platforms and geographies continues as expected. Over the next six months the Group is on track to launch cash equities for institutional clients, and OTC options and listed futures across our various platforms which will allow our clients better opportunities to trade and hedge existing portfolio positions. Invest UK will be launching SIPPs and mutual funds, whilst Invest Singapore will initially offer equities, and ETFs.

The H1 2024 pre-close trading update is due to be released on 5 October 2023.

Enquiries

CMC Markets Plc

James Cartwright, Chief Operating Officer

Euan Marshall, Chief Financial Officer                                         investor.relations@cmcmarkets.com                        

Media enquiries

Camarco

Geoffrey Pelham-Lane / Jennifer Renwick Tel: 020 3757 4994

Notes to Editors

CMC Markets plc ("CMC"), whose shares are listed on the London Stock Exchange under the ticker CMCX (LEI: 213800VB75KAZBFH5U07), was established in 1989 and is now one of the world's leading online financial trading businesses. The Company serves retail and institutional clients through regulated offices and branches in twelve countries, with a significant presence in the UK, Australia, Germany, and Singapore. The Group offers an award-winning, online, and mobile trading platform, enabling clients to trade over 10,000 financial instruments across shares, indices, foreign currencies, commodities, and treasuries through contracts for difference ("CFDs") and financial spread bets (in the UK and Ireland only).  Clients can also place financial binary bets through Countdowns and, in Australia and the UK, access stockbroking services. More information is available at http://www.cmcmarkets.com/group/