Skip navigation

CMC Markets hits 50 millionth trade

Milestone marked with £100,000 prize give-away

London, November 29th, 2007 - CMC Markets Plc ("CMC") the market leading CFD and Financial Spread Betting provider, last week handled its 50 millionth client trade. To celebrate this achievement, the company has been running two competitions worth £100,000; one for the client placing the 50 millionth trade and the other allowing a member of the public to guess precisely when that trade would be made.

The winners have now been announced, with each receiving a cheque for £50,000 at CMC Markets’ head office in London.

Joshua Darbo, a part-time student and voluntary worker from London guessed that the 50 millionth trade would be placed at 5.44pm on Wednesday November 21st – just four minutes after the exact trade was made. On being asked about his plans for the future, Mr Darbo said that he intends to “travel the world” and may also look to start up his own business.

Abdul Baki was the client who placed the 50 millionth trade at 5.40pm on Wednesday. Mr Baki, who placed a market order on US stock PDCO, has been trading Contracts for Difference with CMC Markets for three years.

CMC is widely acknowledged as the first company to have provided online financial trading with the launch of its currency dealing service in 1996. Since then, over US$100 million has been invested in the award winning platform which has received accolades from many organisations ranging from trade bodies up to the UK Government. The company saw a massive boost in its popularity when it moved into the financial Spread Betting arena in 2001 with the revolutionary rolling cash product and through recent periods of market volatility the system has displayed its strength and resilience, comfortably handling in excess of 120,000 trades on peak trading days.

Patrick Latchford, Managing Director (UK) of CMC Markets, commented:
“There may be a general lack of perception as to just how big CMC Markets is as a company, but we have now executed over 50 million trades in all asset classes and this has certainly been an event worth celebrating. We’ve got an incredibly robust trading platform that can quote 20 million live prices in a day, is resilient even when markets are turbulent and is acknowledged as best in class by our clients. These attributes, combined with the very low trading costs and the ability to access the trading platform via a PC desktop application, web front end or mobile phone, make the service and technology incredibly popular with the active trading community, in turn further driving our trade volumes.”

Attached image shows prize winners Joshua Darbo (L) and Abdul Baki on the trading floor at CMC Markets in London. Photo courtesy of City A.M.

About CMC Markets Plc

CMC Markets handled over 16 million trades over the period Nov 06 - Oct 07 with the trades executed having a total value of just over $1.1 trillion across the full CFD product range (including Foreign Exchange and Financial Spread Betting). Since April 2006, CMC Markets has opened offices in Stockholm, Tokyo, Singapore and Vienna, adding to the company’s existing presence in the major global financial centres. Furthermore, CMC Markets is engaged in a series of partner relationships, offering its services through local banks, brokers and intermediaries in a growing number of overseas markets. The company now operates a total of 22 offices worldwide, employs in excess of 900 staff and represents clients in over 70 countries.

CMC Markets was founded in 1989 by Peter Cruddas. The company is authorised and regulated by the Financial Services Authority in London and the respective financial regulatory bodies in each of the countries where it operates.

Remember, Spread betting and FX are leveraged products and carry a high level of risk to your capital. It is possible to incur losses that exceed your initial investment. These products may not be suitable for all investors, therefore ensure you fully understand the risks involved and seek independent advice if necessary.

CMC Markets UK Plc and CMC Spreadbet Plc are authorised and regulated by the Financial Services Authority.

For further media announcements from CMC Markets, please visit the virtual press office at http://www.cmcmarketsplc.com/en/main/press_office.jsp

For further information on opening an account please contact the Sales team on 0800 0933 633, info@cmcmarkets.co.uk or visit www.cmcmarkets.co.uk


Enquiries:

CMC Markets
Andrew Palmer 020 7170 8200

Monk Communications
Tony Cross 020 3003 8607


This press release was distributed by ResponseSource Press Release Wire on behalf of Monk Communications in the following categories: Consumer Technology, Personal Finance, Business & Finance, for more information visit http://pressreleasewire.responsesource.com/about.