CMC Markets PLC (LSE:CMCX) reported subdued market conditions have continued through August in what it called a “challenging” environment.
The online trading and platform technology group said in August trading and investing net revenues trended 20% lower year-on-year with “markedly lower monetisation of client trading activity due to a higher proportion of lower margin institutional volume”.
As a result, the FTSE 250-listed firm expects full-year net operating income will be between £250-280 million.
Core KPIs including client money, assets under administration and active clients across both the trading and investing businesses remain robust with no material change seen through recent weeks, the firm said.
Cost expectations, excluding variable remuneration, are also unchanged at £240 million.
Interim results for the six months to 30 September are due to be released on 16 November 2023.