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CMC Markets seeks further growth in Asia

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Yong Jun Yuan

Yong Jun Yuan

Published Mon, Nov 28, 2022 · 05:50 AM
    • CMC Markets chief executive Peter Cruddas says that he picked Singapore for the launch of its new investment platform for its favourable regulatory environment and proximity to other large South-east Asian markets.
    • CMC Markets chief executive Peter Cruddas says that he picked Singapore for the launch of its new investment platform for its favourable regulatory environment and proximity to other large South-east Asian markets. PHOTO: YEN MENG JIIN

    UK-BASED stockbroker CMC Markets is moving to capitalise on a growing interest in stock markets that has been fuelled by the pandemic.

    The company aims to grow its net operating income by 30 per cent over the three years to FY2025 ending March through the introduction of additional products and geographical expansion.

    For the first half of its FY23 ended Sep 30, the company saw net operating income rise 21 per cent to £153.5 million (S$255.3 million). Basic earnings per share rose 6 per cent to 10.2 pence.

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