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CMC Markets (LON:CMCX), a UK forex and spreadbetting broker, that went public in February this year, announced it is included as a constituent in the FTSE 250 Index of the London Stock Exchange (LSE), from the start of trading on June 20, 2016.
“Inclusion in the FTSE 250 Index is another significant milestone for us all at CMC and we look forward to widening our existing strong investor base with new shareholders,” said CMC Markets founder, CEO and main shareholder Peter Curddas. “Additionally, I am looking forward to updating the market on our progress at our full year results announcement next week, on Wednesday 8 June 2016.”
The FTSE 250 Index is a capitalisation-weighted index consisting of the mid-capitalized companies listed on the LSE, not covered the FTSE 100 Index. It represents approximately 15% of UK market capitalisation. Inclusions and exclusions from this index take place in March, June, September and December. This Index is calculated in real-time and published every minute.
The index consists of companies from the financial services sector, asset management funds, brokers, such as IG Group Holdings and Tullett Prebon, fintech companies such as Fidessa, real estate companies, pharmaceutical firms, retailers, such as Debenham’s, restaurant chains such as Domino’s Pizza, airlines such as Wizz Air and fashion houses such as Jimmy Choo.
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.
In May CMC launched institutional trading services for CFDs and in April launched a binary options trading platform. Since its IPO on the LSE in February, the company has gained momentum and has overtaken other major public forex brokers. As of June 2, it has a market capitalization of GBP 775.95 million.
Earlier this year CMC Markets reported a 13% growth of client numbers over the year.