British online trading firm CMC Markets PLC said it expects net operating income and pretax profit for the year ending March 2020 to be "marginally ahead" of the current range of analysts' forecasts, based on recent and current trading.
Meanwhile, the company said the Australian Securities and Investments Commission is consulting on the application of product intervention powers on the issuance and distribution of binary options and contracts for difference to retail customers, with the changes similar to those already implemented in other jurisdictions, including the European Securities Markets Authority.
In light of ASIC's plans, CMC said it is well-prepared to respond quickly and manage any changes, adding that it will continue to engage with the regulator over the coming months.
In June, CMC said its profit attributable to owners of the parent for the year ended March 31 fell on a yearly basis to £5.9 million from £49.7 million, as client trading volumes fell due to the ban on the sale of binary options to retail customers and the limit on contracts for difference products imposed by ESMA.
