ANZ has announced an agreement to transition its customers from the ANZ Share Investing platform to a CMC Markets-branded platform. This move aligns with ANZ's strategy to simplify its operations. Customers will start seeing CMC Markets branding on the platform over the next 12 to 18 months.
Since 2018, CMC Markets has been providing a share trading solution under the ANZ Share Investing brand. After the transition period, ANZ will cease to receive revenue from share investing activities but will continue managing and providing cash management solutions for these customers.
In April, ANZ revealed in its first-half financial disclosures that it had reclassified the share investing business as held-for-sale. The revenue from share investing activities is not considered material by ANZ.
The announcement was approved for distribution by ANZ’s Continuous Disclosure Committee.
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