Goldman Sachs invests in CMC Markets Plc
PRESS RELEASE
23 November 2007
Goldman Sachs
invests in CMC Markets Plc
CMC Markets Plc ("CMC"), the market leading global retail CFD company today announces that Goldman Sachs has agreed to purchase a 10% stake in the company, subject to regulatory approvals and other pre-completion conditions.
Commenting on today's announcement, Peter Cruddas, Executive Chairman of CMC, said:
“I am delighted to welcome Goldman Sachs as an investor and partner in CMC who shares our vision and drive to grow the business over the coming years. We have been growing at 40% per annum and have expanded our presence to 22 offices globally but there are considerable opportunities still to realise.
“Having Goldman Sachs as a global strategic partner providing operational cooperation will be a major advantage for us going forward. There are exciting synergies for the business that would be difficult to match from any other investor, and by bringing together the liquidity and technological expertise of both parties we will be able to deliver real benefits to our customers and create new and exciting opportunities for CMC globally.”
Cruddas continues:
“Over the last 18 months, CMC Markets has been fully committed to growing its active customer base through the development of its award winning trading platform and overseas offices. This focus has resulted in CMC being one of the fastest growing online financial trading companies in the world, delivering a 68%(1) increase in active clients, a 97%(1) increase in number of trades and a 61%(1) increase in trade volume.”
Jan Boomaars, a Managing Director at Goldman Sachs, commented:
“We are looking forward to working with Peter and CMC Markets in the coming years to capture the significant opportunities in the global retail derivatives market.”
ends