CMC Markets, the London-based provider of contracts for difference, spread betting, shares and foreign exchange services, is on track to achieve its growth target of 30% over the next three years, with net operating income expected to be between £280m and £290m at the end of FY23. Despite challenges in February and March, including lower equity volume and a rise in lower-margin institutional trading activity, stable client money, assets under administration, and monthly active clients have helped the company achieve year-on-year growth of 21% in H1 FY23. CMC Markets plans to expand its services to Singapore beginning in 2023, with a goal of achieving 30% net income growth over the next three years.

(By Roxanne Williams)