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CMC Markets
CMC Markets plc 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. CMC is headquartered in London, with hubs in Sydney and Singapore. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.
CMC Markets was founded in 1989 by Peter Cruddas, then 35 years old, as a Foreign Exchange market maker under the name Currency Management Corporation. The name was later abbreviated to CMC and officially rebranded as CMC Markets in 2005. According to The Financial Times, Cruddas started the company with just £10,000 in initial capital.
In 1992, the company obtained regulatory authorization in the UK from the AFBD, which was later renamed the Financial Services Authority (FSA).
In 1996, CMC Markets launched a real-time FX trading platform, claiming to have conducted the first-ever online FX trade. The company positioned itself as a pioneer in internet-based trading with its proprietary MarketMaker software.
Between 1996 and 2000, the company's subsidiary, Information Internet Limited, licensed the MarketMaker software to several banks. However, in 2000, Cruddas consolidated ownership of the subsidiary and integrated it into CMC Markets as its internal IT division, ensuring exclusive use of its technology.
In 2000, CMC Markets introduced contracts for difference (CFDs) and, by 2001, launched online spread betting on financial markets. These additions significantly changed the company's business model, establishing derivative products as its primary focus. In the same year, Peter Cruddas announced his retirement.
In 2002, CMC Markets began its global expansion, opening offices in multiple countries and growing its spread betting operations in the UK alongside its international CFD business. The first overseas office was opened in Sydney, Australia, led by Goran Drapac and David Trew. The first North American office was opened in 2003 in New York, headed by Josh Levy. This was followed in 2005 by the acquisition of the Canadian broker Shorcan Index, which was integrated as the company's Toronto office under the leadership of Simon Grayson.
From 2001 to 2005, CMC Markets also operated under the brand name deal4free.com to promote its zero-commission trading services, primarily targeting UK-based spread betting clients. However, commissions were later reinstated, and the brand was retired as part of a company-wide rebranding in September 2005.
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CMC Markets
CMC Markets plc 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. CMC is headquartered in London, with hubs in Sydney and Singapore. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.
CMC Markets was founded in 1989 by Peter Cruddas, then 35 years old, as a Foreign Exchange market maker under the name Currency Management Corporation. The name was later abbreviated to CMC and officially rebranded as CMC Markets in 2005. According to The Financial Times, Cruddas started the company with just £10,000 in initial capital.
In 1992, the company obtained regulatory authorization in the UK from the AFBD, which was later renamed the Financial Services Authority (FSA).
In 1996, CMC Markets launched a real-time FX trading platform, claiming to have conducted the first-ever online FX trade. The company positioned itself as a pioneer in internet-based trading with its proprietary MarketMaker software.
Between 1996 and 2000, the company's subsidiary, Information Internet Limited, licensed the MarketMaker software to several banks. However, in 2000, Cruddas consolidated ownership of the subsidiary and integrated it into CMC Markets as its internal IT division, ensuring exclusive use of its technology.
In 2000, CMC Markets introduced contracts for difference (CFDs) and, by 2001, launched online spread betting on financial markets. These additions significantly changed the company's business model, establishing derivative products as its primary focus. In the same year, Peter Cruddas announced his retirement.
In 2002, CMC Markets began its global expansion, opening offices in multiple countries and growing its spread betting operations in the UK alongside its international CFD business. The first overseas office was opened in Sydney, Australia, led by Goran Drapac and David Trew. The first North American office was opened in 2003 in New York, headed by Josh Levy. This was followed in 2005 by the acquisition of the Canadian broker Shorcan Index, which was integrated as the company's Toronto office under the leadership of Simon Grayson.
From 2001 to 2005, CMC Markets also operated under the brand name deal4free.com to promote its zero-commission trading services, primarily targeting UK-based spread betting clients. However, commissions were later reinstated, and the brand was retired as part of a company-wide rebranding in September 2005.