Retail CFD API Client Case Study

13 Jul 2021, 20:55

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Client Facts:

  • Counterparty type: Retail CFD API
  • Established: 1999
  • Regulated by: FCA & other jurisdictions
  • Key metric: 200,000 clients

 

Overview
A very well-established name in the world of global retail FX brokerage firms was looking to future-proof its business back in 2017, by ensuring it had access to additional liquidity pools. The proactive measure was designed to ensure easy access to other asset classes should the need arise, in turn helping client retention.

Challenges
The brokerage already had a well-regarded proprietary platform offering access to all the major instruments, along with a series of direct relationships with liquidity providers. However, they were looking for the certainty of being able to respond seamlessly to any evolution in client demand. Although a number of counterparties could have provided the necessary, the brokerage wanted to ensure that any API connection could be integrated in an efficient manner.

Consultation
One aspect which set CMC Markets Connect apart as a provider was that the design of their API feed offered a very good fit for the brokerage. Taking an API from major banks was considered but this would have required some significant development work to be undertaken. The shared retail legacy of both parties may have contributed to the ease of integration here, but the potential cost savings and accelerated deployment of any new release contributed to CMC Markets winning the mandate.

Results
As expected, CMC Markets is helping the brokerage respond in an agile way as it addresses the changing demands of its clients. Specifically, the ability to offer a wide array of single stock CFDs was well received, with the relationship ensuring that these could be added quickly. “CMC Markets sets itself apart when it comes to being able to fine tune the product offering to meet the needs of the counterparty. Many of their competitors take a far more rigid approach that ultimately falls short of the client’s expectations.”

The Future
Over the last four years, the parties have formed a solid relationship which is very much built on trust. The general standing of CMC Markets also helps provide confidence amongst stakeholders at the brokerage that the service levels will be maintained on a consistent basis. 

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