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CMC Markets and OzForex link up
Mike Taylor - Money Management, 11 September 2008Macquarie-linked foreign exchange service provider OzForex and contracts for difference (CFD) specialist CMC Markets has entered into a referral agreement aimed at lifting its offerings to foreign exchange traders.
The agreement, which will operate only in Australia, will see OzForex clients able to access a further service via the OzForex website.
Commenting on the arrangement, CMC Markets Asia Pacific managing director David Trew said the foreign exchange market was one of the most liquid markets available and that the agreement with OzForex meant that the two companies would be able to work together to give investors more and easy access.
OzForex chief executive Neil Helm said that because OzForex did not provide any form of margin trading facilities and could not offer any advice or information in relation to foreign exchange margin trading, his company believed the agreement represented a value-add for its clients by providing a referral to a company that could provide the margin trading facility.
Helm said the two companies would look at potentially expanding the referral service outside its existing scope.
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