Trading platform CMC sees higher half-year profit on market volatility

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Stock market volatility as expressed by the Cboe Volatility Index – known as “Wall Street’s fear gauge” – climbed to a two-month high in September and volatility in the sterling last week surged to its highest since the Brexit referendum.

CMC, which through its platform enables clients to trade up to 10,000 financial instruments, said it sees leveraged gross client income to be 22% higher in the six months ended Sept. 30, 2022.

The company now sees its half-yearly net operating income to come in at 153 million pounds ($173.44 million), compared with 127 million pounds a year earlier.

($1 = 0.8821 pounds)