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The biggest IPO in the forex industry this year which has been conducted by London headquartered CMC Markets, has been a massive success for the company. That said shares of the company are trading close to the IPO price in February after yesterday’s trading update issued by management, which promoted a 12% decline.
The move lower represents certain over-reaction to the company’s statement that the trading volumes in the first five months of the year have declined despite its growth in customer deposits and new and active clients.
Market volatility has been relatively lower this year when ... (read more)