Crowdfund Insider wrote the deal up on Monday night, three days after LSEG put out its own release, and I read both side by side to see whether the outlet had added anything new. As far as I can see, it had not. The core facts are identical in both texts. LSEG and CMC Markets have signed "a multi-year strategic data agreement" that widens CMC's access to LSEG's data, news and analytics. I found no price in either text. No term in years is given either.
The list of what CMC gets is plain. It covers real-time and delayed pricing, reference data , corporate actions data , news and analytical content, plus what LSEG calls AI-ready content as a base for future AI applications and workflows across the business. I would call it a broad feeds contract, and I do not know its size. The release names no products.
LSEG made a small event of it. On the same day, the London Stock Exchange invited CMC to close the market, marking the new agreement and what it called a longstanding relationship between the two companies. I find that detail more telling than the quotes. My impression is that exchanges save the closing bell for listed clients they want to keep close. CMC has been listed in London since 2016.
The two quotes are polite, which is normal for a data contract and tells me little about the money involved. Chris Coleman, LSEG's group head of sales and account management, said "we can support CMC as it scales its business, develops new client propositions and pursues future innovation". Peter Cruddas, CMC's founder and chief executive, said "broader access to trusted financial data will help us move faster and strengthen the experience we deliver to clients". I read both twice. Neither says anything about cost.
The useful context sits in CMC's own results for the year to 31 March 2026. Net operating income rose 15% to 392.6 million pounds, from 340.1 million pounds a year earlier, and profit before tax rose 20% to 101.3 million pounds. I checked both lines against the table. The Australian stockbroking arm alone brought in 140.3 million Australian dollars, up 32%.
The results explain why CMC wants more data. The company says "a majority of our income" now comes from institutional and B2B platform partnerships. It names a neobank API partnership, a Tier 1 institutional deal through its Invest UK unit and a retail agreement with Currys, and it describes a multi-asset platform with 24/5 US equities and 24/7 crypto and bullion. My reading is that partners like these show prices and news inside their own apps. Somebody in that chain must license the content.
LSEG's release lists Revolut among CMC's partners in the boilerplate. Westpac, ANZ Bank and St George sit next to it. The CMC results describe the neobank API partnership without naming the bank in the passages I read, and I suspect the two documents describe the same relationship. I cannot prove that from here.
For LSEG, one more contract is small. Its interim results for the six months to June 2026 show Data & Analytics growing 5.1% on an organic basis, slower than FTSE Russell at 9.1% and Markets at 11.9%, while total income excluding recoveries rose 8.4%. Annual subscription value grew 6.1%. The revenue retention rate was 92.8%.
That last figure is why a data contract gets a closing bell. A multi-year deal with a client that is growing its partner business is the kind of win that holds retention up, and LSEG has good reason to show investors it keeps signing them. Crowdfund Insider makes a similar point, describing the deal as "a stable framework for ongoing collaboration rather than a short-term data subscription". I agree with that part.
I found no contract value anywhere. There is no term and no product list either. Neither firm says whether this replaces an existing CMC contract or adds to one, though Coleman's word "deepen" points to an existing relationship that is being widened rather than a new supplier. I did not find the agreement in any regulatory filing. CMC's financial half year closed on 30 September, and when those figures come out, the cost lines are where I will look first.