CMC Markets (CMCX): Cost relocation to lower-cost jurisdictions
This situation live
CMCX CMC Markets
20 Nov 2025 · Transition under way; dual-running costs · +61% until the next step
These initiatives are expected to deliver meaningful efficiency gains, with lower overheads and improved profit margins expected to flow through over the next 12 to 18 months
4 Jun 2026 · Efficiency programmes continuing; FY2027 costs about £280m · +51% until the next step
Operating model continues to evolve, with a focus on cost discipline, outsourcing and efficiency programmes to support scalability and operating leverage over the medium-term.
1 Jul 2026 · FY2027 operating costs unchanged at about £280m · +7% since
FY2027 guidance for operating expenses excluding variable remuneration of approximately £280 million remains unchanged.
Cost relocation to lower-cost jurisdictions
FY2027 operating costs unchanged at about £280m
NOV19
Next: HY2027 results with updated guidance in 26 days
Every step · 3
- 20 Nov 2025 Transition under way; dual-running costs – These initiatives are expected to deliver meaningful efficiency gains, with lower overheads and improved profit margins expected to flow through over the... ↗
- 4 Jun 2026 Efficiency programmes continuing; FY2027 costs about £280m – Operating model continues to evolve, with a focus on cost discipline, outsourcing and efficiency programmes to support scalability and operating leverage... ↗
- 1 Jul 2026 FY2027 operating costs unchanged at about £280m – FY2027 guidance for operating expenses excluding variable remuneration of approximately £280 million remains unchanged. ↗
What is happening
CMC Markets: Cost relocation to lower-cost jurisdictions – FY2027 operating costs unchanged at about £280m. ['FY2027 operating costs unchanged at about £280m']
- Announced
- 20 Nov 2025 · Transition under way; dual-running costs
- Latest
- 1 Jul 2026 · FY2027 operating costs unchanged at about £280m
- What it changes
- B2B growth is now stronger than the June guidance implied. FY2027 NOI is guided to at least £550m against £460-480m, and with costs unchanged the extra income flows through as higher margins.
What comes next
HY2027 results with updated guidance (19 Nov 2026).
From the company's own announcements. Not investment advice.
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Project milestonesWestpac partnership – Build phase; launch targeted during 2027
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