CPT Markets UK has announced the appointment of a new CEO, Mike Greenhalgh, marking a significant leadership change in the brokerage. This decision comes following a challenging year for the company, characterized by a notable decline in revenue and significant operational losses.
Greenhalgh’s arrival at CPT in 2022 laid the groundwork for this transition. His prior experience includes roles as a Derivatives Manager at Valbury Capital and experience at both StoneX and MF Global, bringing a wealth of knowledge and expertise to the role. This change in leadership was deemed necessary due to the company’s struggles during 2024, where it recorded revenues of £351,378—a substantial drop of 70% compared to the £1,155,002 generated in 2023. Additionally, CPT reported a considerable loss of £874,000 for the fiscal year.
Key factors contributing to these financial difficulties were identified as an over-dependence on a limited number of clients for most of the firm’s revenue and delays in service provision from liquidity providers requested by some new clients. This led to periods of significantly reduced revenues. Although two significant clients experienced a trading hiatus last year, they have resumed regular trading activities. Management is acutely aware of the need to diversify revenue sources to mitigate future risks associated with relying heavily on a few clients.
In light of these challenges, a review of the management structure was conducted in consultation with the company’s ultimate beneficial owner (UBO). This led to personnel changes and ultimately the elevation of Greenhalgh as CEO. Going forward, the brokerage aims to focus on attracting small to mid-size funds and proprietary trading entities, adapting its business model accordingly. The firm plans to increase the minimum investment size for retail clients while also providing liquidity services to other brokers to enhance revenue diversification.
The company’s strategy involves a continuous review and enhancement of its product offerings. The longer-term vision is to broaden trading options for clients beyond the current products, introducing avenues for trading in equities, fixed income, and futures and options, all on an execution-only basis.
CPT Markets, originally known as Citypoint Trading, operates under FCA regulations in the UK and has expanded its footprint internationally, including licensed operations in South Africa and Belize, as well as a recent licensing acquisition in the UAE. With a predominant management presence in London and Dubai, the organization is strategically positioned to navigate the complexities of the global trading landscape.