Plus500 Finalizes Acquisition of Cunningham Commodities LLC

Plus500, a retail Forex and CFDs broker, announced that it has completed the acquisition of all of the membership interests of Cunningham Commodities LLC and Cunningham Trading Systems LLC(CTS).

According to the official press release, Cunningham is registered as a Futures Commission Merchant (FCM) with the US Commodity Futures Trading Commission (CFTC), a member of the National Futures Association (NFA) and a clearing member of the Chicago Board of Trade (CBOT), division of CME Group, Inc. (CME). CTS is a technology trading platform provider, operating in the futures and options on futures market in the US.

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Let's recall that the latest acquisition was initially announced in April 2021, indicating a major growth opportunity for Plus500.

This acquisition is expected to ensure the company can instantly expand its geographic footprint and product offering in the significantly growing, but under-penetrated, US retail trading market in futures and options on futures.

The deal is also expected to deliver a substantial opportunity for Plus500 to leverage its best-in-class technology to enable market access to the millions of US retail investors looking for new trading opportunities. Plus500 will continue to look for additional bolt-on acquisitions, to help facilitate its strategic objectives and further drive long term shareholder value in the future.

As Fazzaco reported earlier, Plus500 has provided a trading update on its H1 of 2021 performances​. Revenue for the first six months of 2021 stood at $346.2 million, which is down down from H1 of 2020's $564.2 million. Additionally, the broker revealed that it had generated $379.2 million from customer income in the period, which remained $556.9 million and $175 million in H1 of 2020 and 2019, respectively.