UK forex and spreadbetting broker CMC Markets PLC (LON:CMCX), which was recently listed on the London Stock Exchange, registers market capitalization of GBP 722.69M or $1.022B at the end of the week, surpassing Plus500 (LON:PLUS) by 8%.
Earlier this week we made a detailed comparison of publicly-held leading forex brokers, in terms of dollar market value of shares, and London-listed Plus500 and CMC Markets were ranked third and fourth, respectively.
|Market Cap by March 21 (in billions dollars)||Market Cap by March 25 (in billions dollars)||Change|
The stock of Plus500 Ltd. total market value dropped down by 18.9% this week, coming in at GBP 667.35M or $944,40M. At the same time CMC Markets’ share price increased to GBX 251.00, which is an increase by nearly 4.5%.
As a result, CMC Markets becomes third largest forex broker in terms of market cap, after Interactive Brokers Group, Inc. (NASDAQ:IBKR) and IG Group Holdings PLC (LON:IGG).
CMC Markets went public with its initial public offering (IPO) earlier this year, setting the price of its initial public offering (IPO) at GBX 240 per share.
Earlier this month the company announced it has appointed as its joint corporate brokers the US multinational investment banking firm Goldman Sachs and the investment bank RBC Capital Markets, part of the Royal Bank of Canada.
CMC Markets was set up back in 1989 and now it runs offices in 14 countries across the globe, focusing on the markets in the UK, Australia, Germany, and Singapore. The broker offers trading in more than 10,000 financial instruments, including forex, shares, indices, commodities and treasuries via its proprietary trading platform Next Generation.