CMC Markets and ASB Bank Forge Strategic Partnership

London-based online trading platform CMC Markets announced a partnership with New Zealand's ASB Bank, one of New Zealand's largest banks, providing ASB clients with "access to market-leading technology and execution".

CMC's mobile and desktop trading technology will be integrated with ASB Bank's current technology offering.

"Integration is expected to take between 12 and 18 months, with the associated costs expected to be largely capitalized and revenue upside proving meaningful in the context of our Invest business. On an ongoing basis, the cost impact is expected to be incremental as the group leverages existing scale to service the business," CMC said.

"ASB customers will receive CMC's award winning mobile and desktop trading technology, as well as access to over 15 international markets, extensive market research and tax reporting tools."

CMC Chief Executive Officer Peter Cruddas said: "We are delighted to be announcing this partnership with ASB Bank to deliver our market-leading white label technology. There is no higher endorsement of our company than when a major bank or financial institution trusts our technology to deliver a service to their valued clients and this agreement marks further progress in our ongoing diversification strategy, as our business to business technology and institutional-first approach continue to unlock global opportunities."