Online trading company CMC Markets plans to add Squarespace shares to its offering once the company goes public later this month.

Squarespace is not yet publicly traded but the company is planning on offering its shares to the public on 19 May 2021. This will be through a direct listing rather than a traditional initial public offering (IPO) process.

In a direct listing, no fresh capital is raised in advance and Squarespace’s share price will be determined by orders coming into the stock exchange. This also eliminates any restrictions from the lockup period in an IPO. Companies often settle for a direct listing if they do not need to raise any more capital, and it can also save on other costs such as banking and marketing fees. Other companies that recently opted for a direct listing include Coinbase, Palantir and Roblox.

Squarespace will list on the New York Stock Exchange under the ticker symbol ‘SQSP’, after filing for a listing with the SEC in January.

• To trade in Squarespace with CMC Markets, one needs to register for a live account, then choose a product between spread betting and contracts for difference (CFD), which are globally available.
• Choose whether you want to open a long position and ‘buy’ or a short position and ‘sell’. Please note that some trading restrictions may apply on initial trading.
• Apply risk-management tools. Stop-loss orders in particular are used by many share traders in order to avoid making a loss on your open positions.
• Read about the share market. Stay up to date with news and analysis articles and equity reports for breaking announcements about Squarespace’s listing.
• Browse CMC product library for additional assets. Clients of the broker can trade on over 8,500 shares, including Squarespace competitors such as Wix and Shopify.

Squarespace is a company within a very competitive market, which means that when it debuts on the NYSE, it will be up against its rival companies. Although it is a rapidly growing company, it still only represents a tiny percentage of the software and technology industries.

CMC advises traders to keep an eye out for Squarespace shares on its online trading platform, Next Generation. These will show in the product library upon listing.

More information on this matter can be found here.