Praemium Ltd gets CMC Markets’ Contract

Signed 5-year contract with CMC Markets: Praemium Ltd (ASX: PPS) witnessed a rise of 3.53% in its stock price on June 29, 2018, before the market close. This rise was seen after the company reported for signing a 5-year contract with CMC Markets Stockbroking Limited (CMC) to provide them Tax Tools, which is PPS’s advanced tax reporting solution. As per the agreement, PPS will provide tax and CGT optimisation tools to CMC’s users for a minimum contract value of $1 million per annum over the 5-year term. The company will get incremental revenue from the additional portfolios of the transitioned service or from the addition of new CMC white-label clients. PPS has been providing Tax Tools since 2008 to a key institutional client at a minimum contract value of $1 million per annum. Lately, the group announced about launching Smartfunds in UAE. As a result, PPS stock has risen 42.86% in three months as on June 28, 2018.


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