CMC Markets
 |
|
| Public Limited Company | |
| Traded as | : |
| Industry | Financial Services, Online Forex trading, CFDs, spread betting, shares trading |
| Founded | 1989 |
| Founder | Peter Cruddas |
| Headquarters | London, United Kingdom |
|
Area served
|
Worldwide |
|
Key people
|
Peter Cruddas (Founder/Chief Executive) Simon Waugh (Non-Executive Chairman) Grant Foley (Chief Financial Officer) |
| Services | Online trading, CFDs and spread betting |
| Revenue | £186.4 milion (2016) |
| £54.1 million (2016) | |
| £42.5 million (2016) | |
|
Number of employees
|
575 worldwide (2016) |
| Website | www |
CMC Markets is a UK-based financial derivatives dealer. The company offers online trading in spread betting, contracts for difference (CFDs) and foreign exchange (forex) across world markets. CMC is headquartered in London, with hubs in Sydney and Singapore and a further 11 offices internationally. It is listed on the and is a constituent of the FTSE 250 Index.
The company was founded in 1989 by Peter Cruddas as a Foreign Exchange market maker under the name 'Currency Management Corporation'. The name was later abbreviated to CMC and then changed to CMC Markets in September 2005.
In 1992, CMC Markets became authorised and regulated in the UK by the AFBD which later became the Financial Services Authority (FSA).
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. Although not verifiable, CMC Markets was certainly one of the first companies to offer on-line trading over the internet. The company pioneered internet trading technology with its MarketMaker software platform.
The software was developed by Information Internet Limited, a sister company jointly owned by Peter Cruddas and the two developers that designed and built the first version of the software, Terry Johnston and Ben Fisher. From 1996 to 2000 Information Internet Limited, as well as supplying CMC Markets, sold the software to a small number of banks. 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.
In 2000, CMC Markets began to offer contracts for difference (CFDs) and the following year it introduced online spread betting on financial markets. These two products would become the bulk of the business for CMC Markets.
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Wikipedia