Dear Client,

As a valued client of CMC Markets, we would like to inform you of some important changes to our Terms of Business.

Later this year, the Financial Services Authority will be implementing the Markets in Financial Instruments Directive (MiFID) which will effect the way that financial products are marketed and priced. MiFID requires us to standardise our pricing policy across Europe and therefore with effect from Monday, 7th May 2007, CMC Markets will introduce a commission charge on all equity instruments. As our commitment is to offering you the most competitive trading service, it is our intention that this commission charge will be the lowest in the market.

This commission charge will also help us continue to extend our product range, giving you an even wider choice of instruments to trade. This expansion starts on Monday, 7th May 2007 with the addition of a range of UK Small Cap stocks.

All of our other CFD instruments, such as Indices, Commodities and Treasuries, will remain commission free.

Commission Charges

Equities
Commission
Min Charge
UK FTSE350
8bp
GBP 8
Europe
8bp
EUR 8
Denmark
8bp
DKK 49
Norway
8bp
NOK 49
Sweden
8bp
SEK 49
Switzerland
8bp
CHF 8
US
8bp
USD 8
 
Equities
Commission
Min Charge
Canada
8bp
CAD 8
Australian
8bp
AUD 8
New Zealand
8bp
NZD 8
Japan
25bp
YEN 1000
Hong Kong
25bp
HKD 25
Singapore*
25bp
SGD 15 or USD 15
    *Singapore Share CFDs are quoted in USD or SGD and commission is charged in the currency that the Share CFD is quoted in.

 
You can see for yourself how favourably these levels compare with CFDs available elsewhere.

For example, on UK stocks we are cheaper than our nearest competitor by 2bp:

Company
Commission
CMC Markets
8bp
IG Markets
10bp
City Index
20bp

From Monday, 7th May 2007, you will also be able to trade UK Small Caps:

Product
Trading Hours
Margin
Commission
Min Charge
UK Small Caps
08.00 - 16.30 (London Time)
10%
15bp
GBP 8

The new Rates Schedule which fully details these commission rates and margin requirements is available here. This Rates Schedule will come into effect from Monday, 7th May 2007.

Commission 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 commissions that will be generated when closing those positions following the 6th.

The commission credit is 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 CFDs remain the most competitive in the market, however should you have any questions about your new Rates Schedule please contact the Helpdesk by emailing helpdesk@cmcmarkets.co.uk, or by telephoning +44 (0)20 7170 8205.

Best regards,

The team at CMC Markets

For quick answers to your account, software and dealing questions, please visit www.cmcmarkets.co.uk/help

CMC Markets UK Plc is authorised & regulated by the Financial Services Authority