JP Morgan reduces stake in Plus500


Plus500 UK Ltd is authorized and regulated by the FCA in the UK, ASIC in Australia and received a CIF license from the Cyprus Securities and Exchanges Commission.

In 2013, the company announced an IPO on the  London stock Exchange. Its shares started trading publicly on the AIM market of the on 22 July 2013 raising up to US$ 75million, which put the company's Market capitalization at about US$ 200million.

JP Morgan held a total of about 6,710,399 prior to the recent sale of about 1million units, leaving its current plus500 holdings at about  5,738,332. The actual nature of the sale is unclear as it could be a personal sale or the transaction could on behalf of a client for settlement of a CFD claim.

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JP Morgan has always been a big player in the FX industry.

Daniel Pinto, CEO of Corporate & Investment Banking (CIB) at JPMorgan said,

“We’ve seen significantly greater e-trading volume in both foreign exchange and equities since 2011, and we were the top-ranked bank by volume in U.S. Treasuries trading on electronic interdealer platforms in 2013.”

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