Publicly listed brokerage CMC Markets (LON: CMX) has formed a strategic partnership with Revolut, integrating multiple APIs to allow Revolut customers to access CMC’s trading universe directly through the neo-banking app.
CMC Markets Connect will provide the back-end infrastructure, including trading, pricing, account systems, execution, and clearing.
Initially, Revolut customers will gain access to FX, indices, commodities, treasuries, and equity CFDs, with potential expansion into other asset classes as the relationship grows.
“The partnership facilitates back-to-back trading with Revolut, along with a complete back-end integration,” said Lord Cruddas, CEO of CMC Markets.
“We look forward to supporting Revolut’s customers with access to our extensive trading universe.”
The partnership is set to launch soon, enabling Revolut customers to benefit from CMC’s trading capabilities within the familiar interface of the Revolut app.
CMC Markets Connect, a division of CMC Markets Plc, serves a global institutional client base, providing online trading and investment services to banks, brokerages, and dealing desks.
“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,” a Revolut spokesperson said, highlighting CMC’s market experience and integration capabilities.
This marks Revolut’s first collaboration with a prominent UK trading company following its announcement of relocating its main headquarters to London’s financial district, capitalizing on the departures of big banks from Canary Wharf.
Additionally, Revolut has partnered with the British-Romanian Chamber of Commerce (BRCC) to support investments between the UK and Romania.
Cruddas emphasized the partnership’s role in reinforcing CMC’s position as a market leader 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.”
CMC’s latest financial data released in March projects net operating income for fiscal year 2024 to exceed the upper end of the previously guided range of £290 million to £310 million.
This follows a robust third-quarter performance and a £40 million income forecast increase in January, which is now expected to be surpassed.
In April, CMC Invest launched a Self-Invested Personal Pension (SIPP) scheme in the UK, structured as a flat fee product developed in partnership with Quai Investment Services, exclusively available through its Premium plan.
Furthermore, CMC Markets recently promoted Michael Bogoevski to Head of Institutional APAC and Canada, based in Sydney, Australia. Bogoevski, who has a longstanding association with the company, previously served as Head of Distribution for APAC and Canada.