Plus500 has just announced that following last week’s acquisition of a license to operate in Israel, the company has also been granted by the New Zealand Financial Markets Authority. The news is indicative of the company’s ongoing commitment to expand its presence in the Asia-Pacific region.
The subsidiary which was granted with an operating license is the broker’s Australian operator, Plus500AU Pty Ltd. The license is enabling Plus500 to begin offering its services in a country which is relatively small, with over 4.5 million residents, however the acquisition is cementing the company’s reputation in the region.
The license which Plus500 acquired is a derivatives issuer license, which enables the firm to provide retail clients in New Zealand with a CFDs trading online trading platform. Since the company can issue derivatives itself, it can be operating as a market maker.
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The board of directors of Plus500 has expressed that the New Zealand license acquisition underlines the company’s commitment to be operating under strict regulatory supervision. The license is already in effect and is valid for a period of five years, subject to an extension after the period is over.
Commenting on the deal, the CEO of Plus500, Asaf Elimelech, said: “The New Zealand license complements our existing Australian license where we have successfully operated for a number of years.”
The license acquisition adds to the company’s portfolio of existing licenses in the UK, Cyprus, Australia and Israel.