Plus500 is a global leader in over-the-counter (OTC) derivatives and via its market-leading technology platform has built significant capabilities to take advantage of the opportunities in the global futures market, which we estimate represents a $70bn revenue pool. Although our conservative forecasts imply limited near-term earnings momentum, we believe the group’s capital-light model suggests the shares offer a cash yield of around 10% with scope for upside if the group’s track record for outp ....
