FNG Exclusive… FNG has learned that Lord Peter Cruddas, CEO and controlling shareholder of London based online broker CMC Markets (LON:CMCX), has made good on at least part of his pledge to purchase £5 million in CMC Markets stock.

Regulatory filings made to the London Stock Exchange indicate that Lord Cruddas has followed up Friday’s initial £139,000 CMC share purchase with another series of open market purchases, totaling just over £1 million. Apparently Lord Cruddas acquired later on Friday another 161,000 CMC shares, at an average price of 623.85 pence per share – or a total price of £1,004,398.

CMC Markets put out a press release on Friday after its shares dipped by more than 10%, in the wake of rival IG Group (LON:IGG) issuing a Q3 Trading Update that clearly disappointed investors, and took down the shares of other online brokers in its wake. The release indicated that Lord Cruddas intends to purchase CMC shares at market with an aggregate value of up to £5 million, as noted above.

Lord Cruddas currently owns more than 60% of CMC, which has an overall market capitalization of about £1.8 billion. CMC shares are trading up today by about 3%, currently sitting at 651 pence.