CMC Markets Expects Operating Income of £280M for FY23

CMC Markets, a leading global provider of online trading and institutional (B2B) platform technology solutions, released its trading update for the fiscal year 2023 (FY 2023), with an expected net operating income between £280-290 million for the fiscal year ending March 31, 2023, and expected operating costs (excluding variable remuneration) of £215-220 million.

Meanwhile, CMC Markets noted in the latest trading update that "February and March posed a more challenging environment with lower equity volumes and a higher proportion of lower margin institutional trading activity".

The shares in the company closed 21% lower at 184.20 pence each in London on Monday, and closed even lower at 177.60 pence per share on Tuesday.

CMC Markets had previously stated in its January's trading update that its operating income recovered sharply in January​ despite being worse in December, tracking in line with market expectations for FY 2023.