Plus500 acquires Cunningham Commodities to gain U.S. foothold By Investing.com
By Samuel Indyk Investing.com – UK-listed trading platform Plus500 (LON:PLUSP) has announced plans to acquire Cunningham Commodities and Cunningham Trading Systems to enable access to the growing United States retail trading market. Cunningham Commodities is a regulated Futures Commission Merchant and Cunningham Trading Systems is a technology trading platform provider. The acquisition will cost Plus500 about $30mln and will be funded from Plus500’s existing cash balances and paid upon completion, subject to certain adjustments. Strategic rationale The acquisition will give Plus500 a stronger foothold in the US market and provide its product to the significantly growing...
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