Alon Cohen Naznin, the chief operating officer (COO) of London-listed Plus500, has purchased £1m worth of shares in the business.
In a stock market update this morning, the broker announced Naznin bought 32,000 shares yesterday, at a price of £33.03 each. This amounts to a stake worth £1.06m.
The purchase comes after the family retirement fund of the chief executive of Plus500’s Australia arm also bought a stake worth nearly £31,000 in the London-listed group last week.
The Scarf Family Superannuation Fund purchased 1,000 shares in the business, at a price of £30.80 each.
Nicholas Scarf has been the CEO of Plus500AU since May this year, prior to which he was the chief operating officer of Marex for Australia and New Zealand.
Yesterday, the group announced it had partnered with CME Group and FanDuel to provide clearing services for a new event-based contracts platform.
Plus500 will provide brokerage-execution and clearing services for FanDuel Prediction Markets, a joint venture between exchange-operator CME Group and FanDuel, a subsidiary of Flutter Entertainment.
