Online trading firm CMC Markets has seen shares tumble after warning over a hefty drop in spread betting revenues amid more stringent rules and “challenging” markets. Online trading firm CMC Markets has seen shares tumble after warning over a hefty drop in spread betting revenues amid more stringent rules and “challenging” markets. It blamed lower client trading activity since the regulatory clampdown on the sale of so-called contracts for differences (CFCs), with new rules coming into effect last August to protect investors from significant losses. The firm said the effects of this were “compounded by challenging market conditions during much of the fourth quarter”. CMC also separately announced the departure of chief operating and financial officer Grant Foley, who is leaving to pursue other opportunities.

Source: Irish Independent April 03, 2019 08:15 UTC