CMC Markets Widening Spreads

I’ve received the following e-mail from CMC

BAD NEWS, FROM 7TH MAY THEY ARE GOING TO WIDEN THE SPREADS

Examples

VOD Rolling…before 138.48/138.73…new spread 138.45/138.75
BP rolling…before 553/553.5…new spread 552.59/553.92
TESCO rolling…before 455.5/456…new spread 455.16/456.34
i.e 0.075% each side, rolling, for FTSE350 shares
These new spreads will not apply to the closure of existing positions held into this date.

To facilitate this we will make a cash credit to your account and we intend to do this on 6th May 2007. This credit will take into consideration any open positions you have on this day, and will net off any difference generated when closing those positions following the 6th.

The credit will be calculated by using the Mark to Market price as at the close of business 4th May 2007. CMC Markets will not recover any difference from your account if you are subsequently debited less than the original rebate.

We are committed to offering you the best trading service and you will find that our spreads remain the most competitive in the market, however should you have any questions about your new spreads, please contact the Helpdesk by emailing helpdesk@cmcmarkets.co.uk, or by telephoning +44 (0)20 7170 8205.

Tags: CMC Markets, cmcmarkets

This entry was posted on Wednesday, May 9th, 2007 at 3:11 am and is filed under Broker News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.