Plus500 (LON: PLUS), the multi-asset trading platform, saw its shares fall on Monday morning even as it announced the launch of Single Stock Futures in the US, a move that extends its product range but was not sized financially by the company.
The stock traded at 3,829.9p in morning trading, down 2.05% from Friday’s close of 3,910p, within a session range of 3,822p to 4,062p. That leaves the shares well below their 52-week high of 5,535p, set in July, and marks a decline of roughly a quarter from a July peak near 5,130p.
Plus500 said in a stock exchange announcement published this morning that it has launched Single Stock Futures in the US through contracts listed on CME Group, the derivatives exchange, including smaller Micro Single Stock Futures covering fewer shares per contract. Chief executive David Zruia said the launch “is a further step in enhancing our futures offering and giving Plus500 customers greater flexibility to trade some of the leading US stocks,” adding that it “builds on the momentum we are seeing across our non-OTC business, which also includes our prediction markets offering launched earlier this year.”
The launch is incremental rather than transformative. CME Group opened its relaunched US single stock futures market on 27 July with 77 contracts across more than 50 companies, and Plus500 joined more than 35 other retail intermediaries a week later. Plus500’s non-OTC arm, which covers futures and share dealing, generated around $70 million of revenue in the first half of the year, up roughly 30% year-on-year, Finance Magnates reported, though no figure was attached to the new futures product itself.
Zruia said the company looks forward to “broadening this offering” as it scales its US business, a market Plus500 has been building through clearing partnerships with Wealthsimple, the Canadian brokerage, and prediction-market operators FanDuel and Kalshi.
With no revenue impact disclosed for the new product, the fall in Plus500’s shares looks more consistent with a continuation of the pullback from their July peak than with any reaction to the futures launch itself.