# CMC Markets Offers UK Clients Cash-Settled Options on Anthropic Ahead of Nasdaq Listing > CMC Markets now sells UK clients European-style, cash-settled options on Anthropic before its Nasdaq listing, with losses capped at the premium paid. - Published: 2026-11-14T20:06:02+00:00 - Section: Product Launches - Author: News Desk - URL: https://newsforagent.com/news/2026-11-14/cmc-markets-anthropic-pre-ipo-options - Source: [TradingView](https://www.tradingview.com/news/financemagnates:d33ccd55a094b:0-cmc-markets-lets-uk-clients-buy-options-on-anthropic-before-it-lists/) ## Key takeaways - CMC Markets said it is the first UK-regulated broker to offer options on pre-IPO grey markets, starting with Anthropic. - The contracts are European-style and cash-settled, and the premium paid is the maximum a client can lose. - Anthropic filed for a Nasdaq listing on October 26, and CMC clients traded an estimated $451 billion a month over the two quarters to September. CMC Markets began selling UK clients options tied to Anthropic's expected share price on November 14, before the artificial intelligence company lists, and described itself as the first UK-regulated broker to offer options on pre-IPO grey markets. [TradingView](https://www.tradingview.com/news/financemagnates:d33ccd55a094b:0-cmc-markets-lets-uk-clients-buy-options-on-anthropic-before-it-lists/) carried the announcement. ## How the Anthropic Options Settle Clients can buy calls and puts, and the premium paid is the most they can lose, according to [CMC Markets](https://akta.pro/company-profiles/00058nv/cmc-markets). The options are European-style and cash-settled. If [Anthropic](https://akta.pro/company-profiles/0000002/anthropic) lists before an option expires, the contract settles against the official closing price of the listed shares; if it has not listed, settlement uses the grey market price. The product builds on the grey market spread bets and CFDs CMC first offered on SpaceX in May, which are leveraged and roll into ordinary share positions once a company trades. CMC's website says it sets the grey market price from its own view of the expected listing price, using the indicative price range where one exists, valuations of comparable listed companies and market sentiment. The price is not based on trades in private shares, and with no exchange-traded reference before a listing, the product cannot be hedged in the open market, according to the same page. Laurence Booth, global head of markets at CMC Markets, said the options widen access to companies retail clients usually cannot reach before a listing. "It significantly broadens the range of opportunities available," Booth said. Other brokers opened pre-IPO contracts on Anthropic in recent weeks as leveraged contracts for difference. [Pepperstone](https://akta.pro/company-profiles/00024sn/pepperstone) launched a pre-IPO market on Anthropic on October 28, with its price sourced from a third-party exchange rather than a market cap and trading around $115, Fxnewsgroup reported. ThinkMarkets quotes Anthropic's value at the end of its first trading day, while Pepperstone tracks the expected opening share price. ## CMC Markets' Trading Scale CMC Markets is a FTSE 250 group founded in 1989 with more than 2 million global clients, based on over 2 million unique user logins across its trading and investing platforms, including partners, as at November 2025, according to akta.pro [company records](https://akta.pro/company-data). The same records show a $352 million post-IPO debt round in September 2025. CMC clients traded an estimated $451 billion a month over the two quarters to September, FM Intelligence's broker volumes data show. ## Earlier CMC Markets Product Launches CMC Markets launched a ChatGPT integration for UK CFD clients in September 2026, enabling read-only conversational access to account and market data, Fxnewsgroup reported. In the same month it expanded 24/5 US share trading to its CMC Invest platform for UK clients, combining it with fractional investing at 0% commission on fractional shares, Fxnewsgroup reported. In October 2026, LSEG and CMC Markets announced a multi-year strategic data agreement expanding CMC's access to LSEG's financial data, news and analytics, Fxnewsgroup reported. ## Anthropic Options Rollout CMC said the options are available to UK clients from November 14, with a broader global rollout planned. Clients must pass an appropriateness assessment for both OTC options and grey market products, according to its website. ## Companies in this story - [CMC Markets company profile](https://akta.pro/company-profiles/00058nv/cmc-markets) · website: https://www.cmcmarkets.com/group - [Pepperstone company profile](https://akta.pro/company-profiles/00024sn/pepperstone) · website: http://pepperstone.com - [Anthropic company profile](https://akta.pro/company-profiles/0000002/anthropic) · website: https://www.anthropic.com --- News for Agent · https://newsforagent.com/llms.txt