An online trading platform has announced the acquisition of ANZ’s share trading client base.
On Thursday, CMC Markets confirmed the transaction which will include the transition of over 500,000 ANZ share investing customers to its platform, with total assets equating to over $45 billion.
“CMC Markets’ trading technology has been powering the ANZ share trading business under a white label technology partnership established in 2018,” CMC’s head of Asia Pacific and Canada, Matthew Lewis, said.
“This transaction is testament to our ongoing partnership with ANZ Share Investing and demonstrates the strength of our offering in ensuring our clients have the support they need to trade the financial markets.”
“We are working closely with ANZ to provide a smooth transition and I am looking forward to welcoming ANZ Share Investing clients soon.”
ANZ added noted CMC Markets will be seen on the big 4 bank’s platforms over the next 12 to 18 months during the transition's completion.
“CMC Markets has provided a share trading solution under the ANZ Share Investing brand since 2018. At the end of the transition period ANZ will no longer receive revenue from share investing activities,” ANZ said in a separate statement.
“ANZ will continue to manage and provide cash management solutions to share investing customers.”
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