Maddocks advises on major technology outsourcing agreement
By Jason Silverii
• 10 March 2017 • 1 min readMaddocks advised CMC Markets Stockbroking Ltd on agreement with the ANZ Bank and Share Investing Limited
Friday 10 March 2017
Maddocks has advised CMC Markets Stockbroking Ltd on a significant agreement with the ANZ Bank and Share Investing Limited, which will see CMC Markets provide online stockbroking services to ANZ clients.
Under the contract finalised this week, CMC Markets will provide its online stockbroking platform to ANZ under a white-labelling arrangement with ANZ branding.
The platform will service more than 500,000 ANZ retail stockbroking clients, which will result in CMC Markets becoming the second-largest stockbroker in Australia by both number of clients and trades executed.
CMC Markets is a part of the CMC Group, which is a leading global provider of online retail financial services.
The Maddocks team on the matter was led by special counsel Brendan Tomlinson and included partners Andrew McNee and Bruce Heddle, special counsels Arlene Colquhoun and Olivia Hillier and associates Jack Evans and Julian Law.
Brendan said that the matter was a complex and heavily negotiated transaction.
‘In the end this is a great result for our client and a significant move by them in the Australian market.’
Andrew said: 'This is a fantastic result for CMC Markets and we are delighted to partner with them on this transaction.’
By Jason Silverii
Keep up to date with our legal insights and events
Sign upRecent articles
Maddocks advise listed cyber security and cloud provider AUCloud
Maddocks has advised listed cyber security service Sovereign Cloud Holdings Ltd (ASX:SOV) on its $30m capital raising
Maddocks advises on new land transaction for Satterley
Maddocks has advised Australia’s largest private residential developer, Satterley, on its acquisition of a new site.
Maddocks expands national IP practice with the appointment of new Special Counsel
Maddocks has appointed Elizabeth Ireland as a new Special Counsel to lead its growing national trade marks and brand...
Maddocks advises Ultra Violette on new US investment
Australian skincare brand Ultra Violette and its founders were advised by Maddocks on its new partnership
Partner
Sydney