CMC Markets shares soared on Thursday after delivering one of its strongest sets of results on record, with the trading and investment platform reporting a 15% rise in net operating income to £392.6 million for the year to 31 March 2026 and a 20% increase in pre-tax profit to £101.3 million.
This was the best yearly performance outside the Covid-boosted FY2021, driven by volatility caused tariffs, conflict, a parabolic run in gold and silver, and what he called AI-driven speculative behaviour across commodities.
CMC Markets shares were 12% higher at the time of writing.
Trading platform companies thrive in higher-volatility environments as traders become more active in capturing market moves.
However, rather than leaning on the retail trading surge such conditions typically produce, CMC pointed to the growing weight of its institutional and B2B operations, which it likened to running “an exchange-level service” for partner platforms and their underlying clients.
This may give CMC an edge over competitors in the years to come.
The Australian stockbroking arm was a standout, with net operating income up 32% to A$140.3 million, driven by rising client activity and assets under administration. A neobank API partnership drove what the company called exceptional growth in new account openings and trading activity, underlining the scalability of its wholesale distribution model.
Treasury and capital markets chipped in around £5.5 million of trading income, and CapX private market holdings added roughly £2.4 million in unrealised gains. CapX is fast becoming one of the UK’s leading platforms for small-cap fundraising.
On guidance, the company said it had made a positive start to FY2027 and expects net operating income to increase by at least 17%, to between £460 million and £480 million. The volatility caused by the war in the Middle East should help sustain revenue momentum this year.