CLSA Premium to Halt Margin Dealing Business

The Forex broker CLSA Premium disclosed at its annual general meeting last Friday that it has decided to suspend the operation of the Margin Dealing Business, which contains the group's margin dealing and the bullion trading business.

The Board considered there to be limited prospect for the Margin Dealing Business to obtain new clients and to improve its performance, the group explained.

Moreover, CLSA Premium noted that the healthcare business, which was launched in mid-2022, has achieved generally positive outcome, contributing to large majority of the group’s revenue and profit in the first quarter of 2023.

In light of this, the Board considered that the resources and effort deployed in the Margin Dealing Business could potentially be better utilized in the healthcare business.

In addition, trading in the company shares has been suspended with effect from 9:00 a.m. on 25 April 2023 and will remain suspended until further notice.

This comes after the broker's decision to suspend its operations in Australia last September​, citing ongoing losses suffered by the business in Australia and the uncertain future of such business.