6/1/2023 0 Comments Cmc markets countdowns![]() In 2007, CMC Markets acquired financial media and technology company Digital Look which ran the financial information site and sold financial data to third party sites. ![]() In 2006, the company planned to become a public company via an initial public offering however, the IPO was cancelled at the last minute due to market conditions. Commissions were later re-introduced and this brand was dropped as part of the re-branding in September 2005. This brand was designed to promote the zero commission charge service, used primarily for its UK-based spread betting business. įrom 2001–2005, CMC Markets also operated the brand name. This was followed by the acquisition of Canadian broker Shorcan Index, which became its Toronto office in 2005 headed by Simon Grayson. The first North American office was opened in 2003 in New York headed by Josh Levy. This began with its first overseas office in Sydney, Australia headed by Goran Drapac and David Trew. It expanded quickly between 20 and opened offices in a large number of countries, as well as growing the spread betting business in the UK and the CFD business internationally. In 2002, the company began embarking on a major global expansion drive. These two products would become the bulk of the business for CMC Markets. In 2000, CMC Markets began to offer contracts for difference (CFDs) and the following year it introduced online spread betting on financial markets. 2000: Introduction of CFDs and financial spread betting In 2000, Peter Cruddas bought out the other owners, made the software exclusive to CMC Markets and the remaining parts of Information Internet Limited became the internal IT function of CMC Markets. įrom 1996 to 2000, Information Internet Limited, as well as supplying CMC Markets, sold the software to a small number of banks. The company pioneered internet trading technology with its MarketMaker software platform. Although not verifiable, CMC Markets was certainly one of the first companies to offer on-line trading over the internet. In 1996, the company launched a real-time FX trading platform and has made claims to have done the first FX deal on-line over the internet. In 1992, CMC Markets became authorised and regulated in the UK by the AFBD which later became the Financial Services Authority (FSA). The name was later abbreviated to CMC and then changed to CMC Markets in September 2005. The company was founded in 1989 by Peter Cruddas as a Foreign Exchange market maker under the name Currency Management Corporation. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index. CMC is headquartered in London, with hubs in Sydney and Singapore. CMC Markets is a UK-based financial services company that offers online trading in shares, spread betting, contracts for difference (CFDs) and foreign exchange across world markets.
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