Global trading platform to open Manchester tech hub in UK expansion
Global global trading platform, CMC Markets, is to open a technology hub in Manchester this summer.
The move is linked to the FTSE250 firm’s UK expansion beyond its London headquarters. The business also has offices in Australia, Austria, Canada, France, Germany, Ireland, Italy, New Zealand, Norway, Poland, Singapore, Spain and Sweden.
CMC said it chose Manchester because of the more than 10,000 tech and digital businesses in the region employing more than 86,000 people rich in specialist skills and talent, as well as the city’s enviable reputation as one of the fastest-growing tech hubs in Europe.
Chief executive, David Fineberg, said: “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.”
CMC said it undertakes the vast majority of its technology development in-house, unlike many firms in the sector, and over the past decade has invested more than £100m into its systems and platforms.
Simon King, head of IT development, said: “We are truly excited by the potential that an office in the North West brings us.
“As a company, we know that our clients want to see new product ideas and solutions rolled out quickly, which is reliant on us having the right skill sets at our disposal.
“While many companies may tackle a problem like this by looking to offshore the work, 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.
“We believe we can deliver a step change for the business as well as support the levelling-up agenda.”