The agreement is in line with ANZ's strategy to simplify the bank and customers will begin to see CMC Markets branding on the platform over the next 12 to 18 months.
CMC Markets has provided a share trading solution under the ANZ Share Investing brand since 2018. At the end of the transition period ANZ will no longer receive revenue from share investing activities.
ANZ will continue to manage and provide cash management solutions to share investing customers.
In April, ANZ stated in its first half financial disclosures that the share investing business had been reclassified as held-for-sale. The revenue ANZ receives from share investing activities is not material.
Approved for distribution by ANZ's Continuous Disclosure Committee
 As a result of the reclassification, in the half year ended 31 March 2021 ANZ recognised a loss after tax of $251 million relating to the write-down of goodwill attributable to the business. This had no impact to Common Equity Tier 1 (CET1) capital as it resulted in an equivalent reduction in capital deductions.
ANZ - Australia & New Zealand Banking Group Ltd. published this content on 16 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 September 2021 06:01:01 UTC.