ONLINE trading platform CMC Markets has lifted its full-year income expectations once again after its third-quarter income beat predictions, as an increased focus on partnerships and professional traders pays off.

In a trading update yesterday, CMC said third-quarter net operating income came in above expectations, and that net operating income for the year would be ahead of market predictions of between £184.1m and £189.3m.

CMC Markets said the strong performance was driven by better retention of client income, which led to increased revenue per active client, despite lower client income due to weaker market conditions for much of the quarter.

"CMC's performance continued to be strong during the third quarter. I am delighted that our strategy is delivering excellent results, as we continue to grow and diversify," said chief executive Peter Cruddas.

(c) 2020 City A.M., source Newspaper