Maddocks advises CMC Markets on transition of online share trading client base
Maddocks has advised global provider of online trading and institutional platform solutions CMC Markets on its agreement with ANZ to transition the bank’s share investing client base to CMC Markets.
The $25 million transaction will see ANZ’s base of 500,000 online investors transition to the CMC Markets platform. The transaction comes four years after ANZ signed a deal to use the CMC Markets online share trading platform in a white label technology partnership. The latest transaction will see that white label partnership end, with the transition to the CMC Markets platform expected to take 12 to 18 months.
Duncan said the firm was extremely pleased to once again support CMC Markets on a significant strategic deal in the Australian share trading market.
‘We advised CMC Markets on the establishment of the white label partnership with ANZ in 2017 and we are really pleased to be involved again on a deal that will help position CMC Markets as a major player at a time when there is rising demand for retail stockbroking services.’
Maddocks is a proudly independent Australian law firm that works closely with corporations, businesses and governments throughout Australia and internationally. We advise national and international clients across the built environment, education, government, healthcare and technology sectors, from our Canberra, Melbourne and Sydney offices. Our specialist expertise includes dispute resolution and litigation, employment and safety, financial services, franchising and insolvency.
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