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    CMCX   GB00B14SKR37

CMC MARKETS PLC

(CMCX)
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CMC Markets Agrees $18.3 Million ANZ Share Investing Client Base Transition Deal

09/16/2021 | 04:19am EDT

By Anthony O. Goriainoff

CMC Markets PLC said Thursday that Australia & New Zealand Banking Group Ltd.'s share investing client base will transition to CMC for 25 million Australian dollars ($18.3 million).

The London-listed online trading platform said the transaction, which involves the transition of more than half a million ANZ share investing clients with total assets in excess of A$45 billion, will be funded from the company's existing cash resources.

CMC said it will take between 12 to 18 months to fully transition clients.

With this transaction, the company's existing white label technology partnership with ANZ will come to an end, it said, thus removing uncertainty around the finite term of the partnerhip and establishing CMC as a financial leader in the Australian market.

"This is a further step towards the diversification of CMC's earnings and complements the launch of our new investment platform in the U.K., aligning our business strategy across our core geographies," the company said.

Shares in CMC Markets at 0800 GMT were up 7.50 pence, or 2.7%, at 281.50 pence.

Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com

(END) Dow Jones Newswires

09-16-21 0418ET

Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED 0.39% 28.32 End-of-day quote.24.76%
CMC MARKETS PLC -0.07% 259.83 Delayed Quote.-33.50%
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Analyst Recommendations on CMC MARKETS PLC
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Financials
Sales 2022 261 M 359 M 359 M
Net income 2022 76,1 M 105 M 105 M
Net cash 2022 161 M 223 M 223 M
P/E ratio 2022 9,95x
Yield 2022 3,92%
Capitalization 757 M 1 043 M 1 044 M
EV / Sales 2022 2,29x
EV / Sales 2023 1,86x
Nbr of Employees 873
Free-Float 37,9%
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Mean consensus OUTPERFORM
Number of Analysts 6
Last Close Price 260,00 GBX
Average target price 396,67 GBX
Spread / Average Target 52,6%
EPS Revisions
Managers and Directors
Peter Andrew Cruddas Chief Executive Officer & Executive Director
Euan Marshall Chief Financial Officer & Executive Director
James Richards Chairman
Brendan Foxen Chief Technology Officer
Paul Philip Wainscott Senior Independent Non-Executive Director
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