CMC Markets is a UK-based financial derivatives dealer. The company offers online trading in spread bettingcontracts 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.

The company was founded in 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 InCMC Markets became authorised and regulated in the UK by the AFBD which later became the Financial Services Authority FSA. Inthe 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 to Information Internet Limited, as well as supplying CMC Markets, sold the software to a small number of banks.

In 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.

InCMC 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. In the company began embarking on a major global expansion drive. It expanded quickly between and 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. This began with its first overseas office in Sydney, Australia, generation of binary options trading platform providers a number of other offices following in next few years including Beijing, Hong Kong, Frankfurt inAuckland in and Stockholm in The first North American office was opened in in New York.

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This was followed by the acquisition of Canadian broker Shorecan Index, which became its Toronto office in CMC Markets subsequently pulled out of the US market and closed its New York office inwhich was primarily because it was unable to offer its main CFD and spread betting products there due to regulatory restrictions.

FromCMC Markets also operated the brand name deal4free. This brand was designed to promote the zero commission charge service, used primarily for its UK-based spread betting business. Commissions were later re-introduced and this brand was dropped as part of the re-branding in September Inthe 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.

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CMC Markets acquired financial media and 1 minute binary options traderush company Digital Look, [7] which ran the financial information site www. The company was merged into CMC Markets' main operations in London, but continued to run the website and data services for third parties.

Options futures and other derivatives solutions 8th edition pdf, CMC Markets bought the Australian stock broker, Andrew West.

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This was merged with the CMC Markets Australian operation and renamed CMC Markets StockBroking. It continued to offer physical share broking services in Australia. In andCMC Markets saw profits decline with the global financial crisis. In response, Peter Cruddas changed his management team and closed seven offices and reduced the company headcount from a high of 1, employees. InCMC Markets launched its Next Generation trading platform [10] to the UK market.

The new trading software improved on previous MarketMaker software; amongst other things being able to quote market prices to additional decimal points and provide trade execution without re-quotes. In the Digital Look business unit was sold to Spanish-based Web Financial Group. After a return to profits inspeculation emerged that CMC Markets was again looking at an IPO.

On July CMC Markets expands to binary options and launches binary options offering called Countdowns. CMC Markets is one of the companies that launched CFD products to the retail market in and is one of the major CFD providers. No reliable data exists for the over-the-counter CFD and spread betting industry.

However, in some industry participants commissioned a survey to look at the UK market and results indicated that CMC Markets market share in was lower than its main competitor. From Wikipedia, the free encyclopedia.

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