CMC Markets CEO flags ASB go-live before end-2026, Westpac early 2027 and new Revolut UK agreement

Revolut expansion into the UK

Cruddas said CMC Markets had strengthened its relationship with Revolut UK through a new partnership agreement, building on the existing collaboration across Europe. He described the UK agreement as a further step in the broader partnership and as support for continued international collaboration between the two firms. The announcement did not set out commercial terms, revenue expectations or a start date for the UK arrangement.

ASB and Westpac timelines

Cruddas said both bank implementations were "progressing exceptionally well" and remained "strictly on schedule". The ASB New Zealand partnership is nearing its launch phase, with go-live expected before the end of this calendar year, while Westpac remains fully on track for an early 2027 launch. He characterised ASB as a premium opportunity in New Zealand and Westpac as a long-term institutional anchor in Australia, and said both banks had audited the market and chosen CMC's technology and regulatory infrastructure to power core elements of their client proposition. He added that the partnerships are expected to become increasingly meaningful contributors to recurring B2B revenue as they come online. No contract values or revenue figures were disclosed.

B2B scale and platform claims

According to Cruddas, CMC now supports more than 300 B2B partnerships globally. He said the group built its own technology infrastructure rather than acquiring legacy systems, which he said allows tailored institutional solutions and technology synergies. He described a single major B2B institutional client as having generated onboarding volume in one year that would typically take a decade to acquire through standard B2C channels. On the retail side, he cited continuous trading 24 hours a day, five days a week across options, equities, fractional shares and CFDs, the Spectre account for non-leveraged spread betting, which he described as tax-efficient, and a private equity marketplace for pre-IPO investment opportunities. He also referred to a planned global "Super App" as a future launch. These are the company's characterisations; no supporting metrics or launch dates were provided in the announcement.

Guidance, share purchase and results date

Cruddas said he remained confident in the group's financial trajectory following what he called a significant guidance upgrade at the end of Q1, without disclosing figures. He noted that broader market volatility had remained subdued, with the VIX at historically low levels, which he said had created a tougher operating backdrop for some industry peers but was not reflected in CMC's performance, which he attributed to the B2B division. He said he had recently purchased approximately £5 million of CMC shares and had not sold any shares since the company's 2016 IPO. CMC Markets said it will report H1 2027 interim results on 26 November 2026.

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