CMC Markets plc (LON:CMCX) has signed an agreement to enter into a long-term strategic partnership with major New Zealand financial institution ASB Bank.
Following an integration period, CMC will provide ASB clients with access to market-leading technology and execution via an ASB-branded web and mobile platform, including full integration with ASB Bank’s current technological offering.
Integration is expected to take between 12 and 18 months, with the associated costs expected to be largely capitalised and revenue upside proving meaningful in the context of CMC Markets’ Invest business. On an ongoing basis, the cost impact is expected to be incremental as the Group leverages existing scale to service the business.
ASB customers will receive CMC’s mobile and desktop trading technology, as well as access…
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