- Counterparty type: White Label for CFD
- Established: 1993
- Key metric: In excess of 200 employees
An Eastern European brokerage which emerged in the wake of democratic reform across the region went on to build itself a solid reputation as the leading domestic stockbroker. To maintain its market position, the broker realised that there was a need to ensure clients could easily access a wider range of financial instruments from venues across the globe. Failure to find a suitable solution here risked the broker seeing its customers move to other providers who could offer a more comprehensive service.
By 2007, improvements in technology meant that it was becoming increasingly easy for those wanting to trade any instrument or asset of finding a convenient way of doing so. The broker either needed to offer an efficient way of providing this service internally, or otherwise risk losing client share to third party providers. It was recognised internally that even though CFDs were a convenient way to access a wide range of assets from a single trading account, the market for white label provision of these services was still in the early stages. That however made the decision-making process somewhat easier as the broker’s internal policy was to favour the better known and established counterparties whenever possible. As a result, CMC Markets Connect was asked to deliver the new service, becoming the broker’s first platform provider in the process.
The broker also works with additional third-party providers to enable its clients to trade the widest possible range of assets, but the white label relationship with CMC Markets Connect remains popular. Not only has this ensured the broker can attract and retain those clients who want short term, leveraged exposure to thousands of different instruments, but it is also delivered across a market-leading platform, built on institutional-grade technology which continues to evolve. At launch, trading was conducted using what was at the time an award winning, downloaded platform, but this has since evolved to a web-based next generation product which works on a wide range of devices including mobile, again ensuring that clients have access to the products they want in a way that is convenient for them.
Noting the attractive commercial terms and pricing offered by CMC Markets Connect, the broker sees this as having been instrumental in successfully building the relationship over the last 14 years. Relationship managers make frequent in-person visits to the broker, whilst CMC’s combination of a significant balance sheet coupled with the broad range of instruments on offer has created a truly compelling CFD proposition.