Last checked at 9 May 2017 07:00
9 May 2017
CMC MARKETS PLC
CMC Markets welcomes conclusion of BaFin consultation
CMC Markets Plc ("CMC"), a leading global provider of retail CFD trading, welcomes the outcome of the BaFin regulatory consultation into the retail CFD industry in Germany which requires the implementation of negative balance protection, where clients cannot lose more than their account balance, by 10 August 2017.
As previously announced on 9 December 2016, CMC already offers negative balance protection through its market-leading, proprietary Next Generation platform, and therefore will comply with the BaFin proposals in full by the required deadline. There are no further changes for clients that have been proposed by BaFin, including no regulator-imposed limitations on margins.
CMC is pleased that the BaFin has maintained the scope of the consultation and the speed at which any regulatory uncertainty in Germany has come to a close.
CMC is already the market leader in Germany according to the independent Investment Trends survey and believes that the BaFin proposals will further enhance this position given the ease of technology implementation, focus on clients and customer service.
-ENDS-
Enquiries
CMC Markets plc +44 (0)20 7170 8200
Grant Foley, Chief Financial Officer
Charlie Steel, Global Head of Corporate Development
Craig Inglis, Head of Germany
Camarco (Financial PR) +44(0) 20 3757 4994
Geoffrey Pelham-Lane
Ed Gascoigne-Pees
Jennifer Renwick
Notes to Editors
CMC Markets plc ("CMC"), whose shares are listed on the London Stock Exchange under the ticker CMCX, 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 14 countries, with a significant presence in the UK, Australia, Germany and Singapore. CMC Markets 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"), financial spread bets (in the UK and Ireland only) and, in Australia, access stockbroking services. More information is available at http://www.cmcmarkets.com/group/