CMC Finance Officer to Exit, Spread-Bets Revenue Falls

(Bloomberg) -- CMC Markets Plc said its financial officer is leaving the spread-betting company as part of a broader reshuffle of senior management amid falling revenues.

Grant Foley, CMC’s chief operating and financial officer, is leaving the firm to pursue other opportunities, according to a company statement on Wednesday. Revenue from spread-betting and derivatives, known as contracts for difference, or CFDs, is expected to fall 37 percent for the 2019 full-year.

The spread-betting company’s stock price was buffeted last year after a wave of European rules sought to curb the sector to protect retail investors who were losing money on leveraged bets.

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