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2 September 2021 Updated Net Operating Income Expectations for FY2022 CMC Markets plc ( " CMC " or the " Group " ) , a leading global provider of online trading and institutional ( " B2B " ) platform technology solutions , today issues a trading update for the five months ending 31 August 2021 . Trading Update CMC entered the current financial year with significant momentum following a year of record performance . Underlying fundamentals remain robust with overall monthly active client numbers at similar levels as reported in the recent Q1 2022 trading update , which remain up around a third from pre - pandemic levels . Likewise , client AuM remains near record levels , highlighting the inherent ability of clients to trade when market opportunity arises . CMC Markets plc Trading Update Offsetting this , overall market activity has remained subdued through July and August following on from the moderation in activity reported in Q1 . Reduced volatility in markets has resulted in lower trading activity across both the newly acquired and existing cohort of clients . Similar trends have been seen across our non - leveraged and leveraged businesses . In addition to lower activity , year to date client income retention has also been tracking moderately below the targeted 80 % although is expected to recover through the remaining seven months of the year based on a reversion towards historical averages in the mix of asset class trading . As a result , should current market conditions prevail for the remainder of the year the Group now expects FY 2022 net operating income to settle in a range between £ 250-280million . FY 2022 operating costs will continue to track moderately higher year over year albeit partly offset by lower marketing costs in line with lower activity trends . Beyond the recent moderation in market activity , the Group continues to have confidence in the long term growth opportunities of the business and in conjunction with further progress on its strategic initiatives , including the ongoing development of the non - leveraged investment platform , looks forward to continuing to generate long - term business growth and value . Forward looking statements This trading update may include statements that are forward - looking in nature . Forward looking statements involve known and unknown risks , assumptions , uncertainties and other factors which may cause the actual results , performance or achievements of the Group to be materially different from any future results , performance or achievements expressed or implied by such forward - looking statements . Except as required by the Listing Rules and applicable law , the Group undertakes no obligation to update , revise or change any forward - looking statements to reflect events or developments occurring after the date such statements are published . Enquiries CMC Markets plc James Cartwright , Investor Relations Euan Marshall , Chief Financial Officer Camarco Geoffrey Pelham - Lane Ed Gascoigne - Pees Jennifer Renwick Notes to Editors Public investor.relations@cmcmarkets.com +44 ( 0 ) 20 3757 4994