CMC Markets Plans NZX Accreditation for Trading and Clearing in 2025

Thursday, 31/10/2024 | 14:38 GMT by Tareq Sikder
  • The application will be submitted to NZ RegCo, which oversees compliance with NZX's market rules.
  • The firm plans to replicate its Australian model in New Zealand by building a foundation for growth.
CMC Markets

Financial services company CMC Markets announced its intention to apply for accreditation as an NZX Trading and Clearing Participant in 2025. The application will be lodged with NZ RegCo, the entity responsible for enforcing compliance with NZX’s market rules.

CMC Markets Pursues NZX Participation

Peter Cruddas, CMC Markets Chief Executive and Founder, Source: CMC
Peter Cruddas, CMC Markets Chief Executive and Founder, Source: CMC

The announcement took place at NZX’s Capital Markets Centre in Auckland. CMC Markets Chief Executive and Founder Peter Cruddas and General Manager for New Zealand Chris Smith attended the event alongside NZX Chief Executive Mark Peterson.

Peterson commented on CMC Markets’ plans, indicating that NZX welcomes the company’s participation. He stated that the move reflects the appeal of New Zealand’s capital markets and provides more investment opportunities for overseas clients using CMC Markets’ trading services.

Smith highlighted CMC Markets’ commitment to replicating its success in Australia in the New Zealand market. He mentioned that establishing a strong foundation is essential before scaling operations.

20 Years in New Zealand

Cruddas noted that CMC Markets has operated in New Zealand for nearly 20 years and expressed a commitment to the local market. He referenced the company's success as an ASX participant in Australia since 2007 and indicated plans to expand B2B partnerships through advanced technology solutions.

CMC Markets aims to build a solid foundation in New Zealand, mirroring its success in Australia, which has proven highly profitable for the London-listed broker.

In the last fiscal half-year, the firm generated over £62.3 million in revenue from Australia, exceeding its UK earnings, as reported by Finance Magnates. This marked the second consecutive half-year period where Australian revenue outpaced the UK, following H2 FY23, when Australia brought in £45.4 million compared to the UK's £39.3 million.

“In Australia, we have been a successful ASX participant since 2007 servicing hundreds of partners and over a million local retail investors. The next stage of our growth in New Zealand is expanding our B2B partnerships with our leading, world class technology solutions,” Cruddas commented.

Financial services company CMC Markets announced its intention to apply for accreditation as an NZX Trading and Clearing Participant in 2025. The application will be lodged with NZ RegCo, the entity responsible for enforcing compliance with NZX’s market rules.

CMC Markets Pursues NZX Participation

Peter Cruddas, CMC Markets Chief Executive and Founder, Source: CMC
Peter Cruddas, CMC Markets Chief Executive and Founder, Source: CMC

The announcement took place at NZX’s Capital Markets Centre in Auckland. CMC Markets Chief Executive and Founder Peter Cruddas and General Manager for New Zealand Chris Smith attended the event alongside NZX Chief Executive Mark Peterson.

Peterson commented on CMC Markets’ plans, indicating that NZX welcomes the company’s participation. He stated that the move reflects the appeal of New Zealand’s capital markets and provides more investment opportunities for overseas clients using CMC Markets’ trading services.

Smith highlighted CMC Markets’ commitment to replicating its success in Australia in the New Zealand market. He mentioned that establishing a strong foundation is essential before scaling operations.

20 Years in New Zealand

Cruddas noted that CMC Markets has operated in New Zealand for nearly 20 years and expressed a commitment to the local market. He referenced the company's success as an ASX participant in Australia since 2007 and indicated plans to expand B2B partnerships through advanced technology solutions.

CMC Markets aims to build a solid foundation in New Zealand, mirroring its success in Australia, which has proven highly profitable for the London-listed broker.

In the last fiscal half-year, the firm generated over £62.3 million in revenue from Australia, exceeding its UK earnings, as reported by Finance Magnates. This marked the second consecutive half-year period where Australian revenue outpaced the UK, following H2 FY23, when Australia brought in £45.4 million compared to the UK's £39.3 million.

“In Australia, we have been a successful ASX participant since 2007 servicing hundreds of partners and over a million local retail investors. The next stage of our growth in New Zealand is expanding our B2B partnerships with our leading, world class technology solutions,” Cruddas commented.

About the Author: Tareq Sikder
Tareq Sikder
  • 1080 Articles
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About the Author: Tareq Sikder
A Forex technical analyst and writer who has been engaged in financial writing for 12 years.
  • 1080 Articles
  • 12 Followers

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