UK online trading house CMC Markets Plc (LON:CMCX) has announced a new fintech partnership with global neobank, Revolut. The partnership will see the two companies connecting via multiple APIs, with the user interface delivered directly via the Revolut app whilst trading, pricing, account systems, execution and clearing are provided by CMC Markets Connect, CMC’s institutional services arm.
Lord Cruddas, CEO of CMC Markets, commented:
“The partnership facilitates back-to-back trading with Revolut, along with a complete back-end integration, providing their customers with access to the CMC Markets Connect trading universe. FX, Index, Commodities, Treasuries and Equity CFDs will be offered initially, with the ability to support other asset classes in the future as the relationship develops and matures. I would like to thank the Revolut team for their trust and faith in our technology and team.”
A Revolut spokesperson added:
“As a global neobank, we work with a wide range of FinTech providers to ensure Revolut customers have access to best-in-class solutions for their investing needs. CMC’s size and legacy in terms of market experience and understanding of how to integrate trading systems seamlessly with other financial institutions has shone through over the last year of negotiations. We look forward to building on this working relationship in the future.”
Lord Cruddas further added:
“This important partnership reinforces CMC’s position as a market leader and innovator in the B2B fintech space. It illustrates how CMC can fully support institutions looking to offer financial products with a full technology and trading infrastructure. Current expectations are that Revolut will launch to its customers imminently.”
About CMC Markets Connect
CMC Markets Connect provides online trading and investment services to a global institutional client base of banks, brokerages, funds and dealing desks. Its continuous innovation and investment in trading technology means that it is able to respond consistently to changing markets. Through a single connection, CMC Markets Connect clients have access to multiple asset classes worldwide allowing them to seamlessly execute their chosen strategy and increase revenue potential.
