Plus500 hails 'important milestone' as gets Canadian trading licence
Plus500 Ltd on Monday said that it has obtained a licence from the Canadian Investment Regulatory Organisation.
This marks an ‘important milestone’ in Plus500’s move to expand in North America, the Haifa, Israel-based trading platform provider said in a statement.
With the new licence, Plus500 will start services in the over-the-counter market with other offerings to follow.
‘This expansion aligns with Plus500’s strategic roadmap and vision to strengthen its international presence and deliver innovative solutions across multiple financial markets,’ the firm added.
In recent years, Plus500 has secured new regulatory licences in the US, Japan and the United Arab Emirates among others.
The company has 15 regulatory licences globally, which the firm called a ‘meaningful source of competitive advantage’ that ‘provides a strong regulatory foundation for its global operations’.
Chief Executive David Zruia said: ‘This is the latest realisation of our strategy to enter new markets, develop new products, and deepen engagement with our customers.’
Shares in Plus500 were up 1.4% at 3,402.00 pence each in London on Monday morning.
Plus500 also said Choh Tong Goh, chief executive of Plus500SG PTE Ltd, the Singaporean subsidiary of Plus500, sold 9,000 shares at £33.51 and £34.01, worth £304,890, on Wednesday and Thursday last week.
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