CANBERA (dpa-AFX) - CMC Markets Stockbroking has been chosen as the preferred vendor to extend its long-term technology and platform partnership with Westpac Banking Corporation. The agreement covers Westpac's online share trading services-Westpac Share Trading (WST) and St.George Directshares (DS).
After a planned integration period, CMC will provide Westpac and St.George customers with access to advanced trading technology through branded web and mobile platforms. These white-label platforms will be integrated with Westpac's existing systems. The integration is expected to take around 12 months, with most associated costs to be capitalised. The partnership is anticipated to deliver meaningful revenue growth for CMC's Australian Invest business.
Ongoing costs are expected to be incremental, as CMC leverages its existing technology, scale, and expertise to deliver a high-quality service to Westpac and its customers.
Customers of Westpac and St.George will benefit from CMC's trading platforms, available on both desktop and mobile. They will gain access to global markets, in-depth market analysis, powerful trading tools, and all future platform enhancements.
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