Huge UpSide21 Dec 2017 09:14
Major Partnership with ANZ
CMC Markets plc, (LSE: CMCX, "CMC" or the "Group"), a leading global provider of online retail trading, today announces a major stockbroking partnership with Australia and New Zealand Banking Group Ltd ("ANZ"). The transaction will result in CMC becoming the second-largest stockbroker in Australia by both number of clients and trades executed.
Key highlights:
· Following a transition period, CMC will service over 500,000 ANZ retail stockbroking clients under the ANZ Share Investing brand
· CMC will provide leading technology, customer service and execution via an ANZ-branded stockbroking platform
· Gross revenue received from CMC’s stockbroking business is projected to increase by approximately A$40m
· Leverages the scalability of CMC’s existing best-in-class stockbroking technology, providing ANZ retail stockbroking clients with access to leading technology, customer service and execution via an ANZ-branded stockbroking platform, which includes full integration with ANZ’s wider product offering
· Long term agreement with high-quality Australian institution, which includes a commitment by CMC to work with ANZ to bring new and innovative features to ANZ retail stockbroking clients