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

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.