London-based online trading platform CMC Markets is bringing good news to Manchester with an investment as it plans to unveil a tech hub in the city.
While there are no financial details, the hub is due to open this summer and its formation marks the FTSE250 company’s UK expansion beyond its London headquarters.
David Fineberg, CMC Markets Deputy CEO, comments: “Manchester is quickly proving itself to be one of the leading technology hubs in the country. This investment by CMC will not only enable us to bring jobs to the region, but it will also allow us to build on the city’s vibrant and growing financial technology sector and tap into the diverse, highly skilled workforce.”
Simon King, Head of IT Development at CMC Markets, adds: “We have chosen to build technology teams in our new Manchester hub where there’s already a growing fintech sector, a significant talent pool and a number of world-leading universities.”
According to the trading platform, there are more than 10,000 tech and digital businesses in Greater Manchester, employing more than 86,000 people.
The new tech hub and investment follow other positive developments in the region.
As eWeek UK reported earlier, Accenture announced plans to boost its UK workforce by 3,000 new roles over the next three years – and Manchester was one of the cities getting a mention.
Also, last autumn a new Digital Tech Cluster was announced by the Science and Technology Facilities Council. The plan aims to support the growth of digital businesses throughout the region and could potentially bring 1,000 jobs to North West England.
Yesterday (5 May), eWeeK UK published its latest tech feature – ‘Eight Fintech Companies in Manchester to Watch’. The article comprised such names as AccessPay, BankiFi, Bank North, Collctiv, Digital Oracles, Orka Pay, Payful and PollenPay.
Back to CMC Markets as it explains that it undertakes the vast majority of its technology development in-house and over the last decade has invested more than £100 million into its systems and platforms.
The fintech company was founded in 1989 and is headquartered in London. It has offices in 12 countries (such as Germany and Australia) and over 300,000 global clients.
CMC Markets acts as a broker to both retail and institutional clients, as well as a liquidity provider to other banks and brokerages.