CMC Markets Plc Response to BaFin Consultation Paper (3860R)
09 December 2016 - 6:00PM
UK Regulatory
TIDMCMCX
RNS Number : 3860R
CMC Markets Plc
09 December 2016
9 December 2016
CMC MARKETS PLC
Response to BaFin Consultation Paper
CMC Markets plc ("CMC") notes yesterday's announcement by BaFin
regarding the marketing, distribution and sale of CFD products to
retail clients.
The BaFin consultation paper requires CFD providers to ensure
that retail clients cannot lose more money than is deposited in
their account, a functionality which is already available to CMC
Markets clients in Germany. On the basis of the consultation paper,
there are no other requirements from BaFin including no leverage
limits, and where retail clients' risk is limited to their
deposits, there is no prohibition on marketing, distribution and
sale of CFDs.
We welcome this balanced approach from BaFin and will respond to
the consultation in accordance with the proposed timeline of 20
January 2017.
CMC is the leading provider in Germany and has had the largest
retail CFD market share, based on the latest independent Investment
Trends research, since the start of the study in 2011.
Media enquiries
Camarco
Geoffrey Pelham-Lane/Ed Gascoigne-Pees/Jennifer Renwick Tel: 020
3757 4994
Notes to Editors
CMC Markets plc ("CMC"), whose shares are listed on the London
Stock Exchange under the ticker CMCX, was established in 1989 and
is now one of the world's leading online financial trading
businesses. The company serves retail and institutional clients
through regulated offices and branches in 14 countries, with a
significant presence in the UK, Australia, Germany and Singapore.
CMC Markets offers an award-winning, online and mobile trading
platform, enabling clients to trade over 10,000 financial
instruments across shares, indices, foreign currencies, commodities
and treasuries through contracts for difference ("CFDs") and
financial spread bets (in the UK and Ireland only). Clients can
also place financial binary bets through Countdowns and, in
Australia, access stockbroking services. More information is
available at http://www.cmcmarkets.com/group/
This information is provided by RNS
The company news service from the London Stock Exchange
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