Plus500 has completed the acquisition of Cunningham Commodities and Trading Systems, a well-known commodity broker. It’s an important decision for Plus 500 as it will give them access to futures markets across numerous countries worldwide to stay at par with global competition.
Plus500 announced the acquisition of Cunningham in April 2021.
The company was transitioning into a global multi-asset fintech group. It acquired an FCM with branches across the US, Europe, China, Japan, and India, as well as being registered with major markets such as CFTC (US), NFA (Europe) & Chicago Board of Trade.
Plus500 is a global CFD and FX trading platform provider operating in over 140 countries worldwide. The Cunningham Trading Systems (CTS) is a technology company providing futures trading software to US markets.
With Plus500’s best-in-class technology combined with CTS’ infrastructure and their existing base of customers. They will now be able to provide liquidity services for both retail traders and institutional firms alike.
The merger is likely ot not only increase efficiencies but also deliver long-term shareholder value.
The announcement comes following several months of negotiation between David Zruia – CEO at Plus500 – and Ron Churney Jr., President & Chief Executive Officer at Cunningham Trading Systems LLC; all parties involved.
Plus500, the online trading and investment company, reported a surge in revenue during Q1 2021.
According to their report from this quarter’s earnings release on Friday morning, the number of active customers reached record highs as well.
Lastly, with the latest acquisition, Plus500 is set to expand its presence in the US market. “The acquisition represents an important strategic step for Plus500 as we continue our transition into a global multi-asset Fintech Group,” Zruia said of this change.
We are excited by what’s going on here and anticipate great things coming out of it!
Plus500 will now be able to use the expertise of Prof. Frenkel. He is a renowned economist with international experience in global macroeconomics.
He has more than 40 years’ worth of experience as chairman on boards for companies at many different levels.