CMC Markets Eyes NZX Expansion

UK-based online brokerage CMC Markets plc (LON: CMCX) has unveiled plans to strengthen its operations in New Zealand, setting its sights on NZX market participation in 2025. The firm announced that it will apply for NZX Trading and Clearing Participant status, aiming to collaborate with NZ RegCo, the independent regulatory entity overseeing compliance for market participants.

This announcement was made in Auckland at NZX's Capital Markets Centre, where CMC Markets' CEO and Founder, Lord Peter Cruddas, joined New Zealand General Manager Chris Smith and NZX Chief Executive Mark Peterson. Expressing optimism about CMC's plans, Peterson emphasized that welcoming CMC Markets into NZX's ecosystem would enhance New Zealand's capital market appeal for global investors, noting the expanded opportunities this brings for those who utilize CMC's trading platform to access New Zealand-listed assets.

Highlighting CMC's commitment to growth in New Zealand, Smith drew on the firm's achievements in the Australian market. He conveyed plans to replicate CMC's success there by laying strong foundations to build scale. Lord Cruddas also expressed enthusiasm for establishing closer ties with NZX, underscoring CMC's nearly two-decade history in New Zealand and its commitment to fostering B2B partnerships with its advanced trading technologies. He cited CMC's long-standing role as an ASX participant as a model for its future NZX ambitions.

NZX, New Zealand's official exchange, provides markets for equities, debt, funds, derivatives, and energy. CMC Markets, founded by Cruddas in 1989, has evolved into a leading online trading platform offering access to global markets from its headquarters in London, with operations in Sydney, Singapore, and Auckland.