CMC Markets Strengthens Presence as Westpac Share Trading Partner

CMC Markets Stockbroking is the preferred vendor to extend its long-term technology and platform partnership with Westpac Banking Corporation. The partnership will cover Westpac’s online share trading services, Westpac Share Trading (WST), and St.George Directshares (DS).

Following a planned integration period, CMC Markets will provide Westpac and St.George customers with access to advanced trading technology through branded web and mobile white-label platforms. The integration, expected to take approximately 12 months, will align with the Bank’s existing technology ecosystem. Associated costs are going to be largely capitalised, with meaningful revenue upside for CMC’s Australian CMC Invest business.

CMC Markets Strengthens Presence as Westpac Share Trading Partner

On an ongoing basis, cost impacts are to be incremental, as CMC leverages its existing technology, scale, and experience to deliver a best-in-class service to the Bank and its customers. Once operational, Westpac and St.George clients will benefit from CMC’s mobile and desktop trading platforms, offering access to global markets, comprehensive market analysis, trading tools, and all future technology roadmap developments.

As Australia’s second-largest stockbroking firm, CMC Markets Stockbroking manages over A$90 billion in assets under administration and services more than 1.2 million share trading accounts. The new arrangement will significantly expand CMC’s market presence, servicing roughly 40% more customers and increasing domestic trading volumes by approximately 45%. The transaction does not require regulatory or shareholder approval.

Lord Peter Cruddas, CEO of CMC Markets Group, said: “This is a significant opportunity that highlights our proven capabilities in partnering with major banks. We are happy to deliver a market-leading user experience and innovative technology for investors. Our focus is now on supporting Westpac and St.George customers to ensure a smooth, successful integration.”

So, Westpac Managing Director, Private Wealth, Ashley Stewart, added: “After an extensive review, we have selected CMC Markets Stockbroking as our preferred platform supplier. We look forward to extending our relationship and delivering innovative trading features integrated with our online banking for more of our customers.”

This partnership marks a major milestone in the evolution of Australia’s online share trading landscape, combining CMC Markets’ technology expertise with Westpac’s extensive customer base.

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