Lord Cruddas, the Conservative peer, is exploring a surprise break-up of CMC Markets, the financial spread-betting firm he founded 32 years ago, into two separately listed companies.
Sky News has learnt that the board of CMC could announce within days that it has begun work on the potential split.
City sources said this weekend that if agreed, the break-up would create a leveraged trading business housing CMC’s spread-betting operations, and a non-leveraged business containing its technology and new investment products platforms.
Both would be quoted on the London Stock Exchange, although only the “legacy” business would be likely to retain the CMC name, according to one source.
One insider suggested that the move could ultimately create hundreds of millions of pounds of value for shareholders – the largest of whom is Lord Cruddas himself, with a 62.5% stake.
The exploration of a break-up of the group is being led…