CMC Group Business is booming at CMC Group, theLondon-based spread-betting and foreignexchange financial specialist. Bankers are pressing for a float, andalthough founder and owner PeterCruddas will have the final say, a spring2006 debut at a value of £800m-£900m could be on the cards. With CMC’s strong presence in Europe andAsia – including an office in China – theprofits are pouring in.If it moves, Cruddas will trade it –apart from old-fashioned sports betting,which he leaves to others. Equities,indices, derivatives, commodities, oil,currencies – such instruments are hismetier, and CMC is also an online marketmakerthrough Deal4free.com, the privateinvestor share service it owns.Cruddas employs some very brightcomputer people, who have helped buildthe software that gives CMC a competitiveedge on pricing – software that isalso sold to other financial groups, allowing them to set up their own trading platforms and providing Cruddas with another lucrative revenue stream. In the year to March 2006, CMC is looking to make a £48m profit, ample justification for that £800m valuation. Cruaddas owns it all, making him the richest man in the city.