CMC Connect launches new Prime Services capabilities, offering Cash and Synthetic Prime Brokerage for institutional clients.
CMC moved much of its personnel and infrastructure within its B2B division, CMC Connect, to Dubai in 2023.
Chris Cheverall joins CMC Markets from Malaysia based Maybank, where he served as Head of Institutional Prime Sales (Europe).
The partnership will see the two companies connecting via multiple APIs, with the user interface delivered directly via the Revolut app.
CMC Connect clients will now have access to a broad range of UAE stocks as a derivative product.
CMC Connect will utilise Lucera’s LumeFX product suite to bolster its existing in-house fix connectivity offering for FX.
The integration provides CMC Markets clients with access to Skale’s back office, CRM, multi-layered IB portal and traders’ area.
CMC Markets posted net operating income of £288.4 million, up by £6.5 million compared to 2022, driven by increased client income.
Leading the move to Dubai is Richard Elston, CMC’s Group Head of Institutional.
CMC Markets Connect will be staffing the Dubai office using both the incumbent team, plus a mix of locally recruited staff.
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