OANDA Opens New Subsidiary in Malta, Allows UK Clients to Migrate

FX brokerage firm OANDA is ratcheting up its preparation for Britain’s exit from the Europe Union. The multi-regulated broker has secured the regulatory approvals for its new European subsidiary in Malta. Working under the brand ‘OANDA Europe Markets (OEM)’, the new entity is licensed by the Malta Financial Services Authority.

Furthermore, OANDA has given clients of its UK entity, OANDA Europe Limited (OEL), the option to be moved to its Maltese new subsidiary or opt-out and continue staying with the FCA-regulated firm.

In an interesting email sent out to clients, OANDA further explained “If you prefer to remain a client of OEL, you do not need to do anything, and will thereby continue to receive the 'gold standard' regulatory protections provided by the FCA. Starting from 11pm 31st December 2020, we will not be able to offer you the benefit of any new services or ability to trade on any new financial instruments, or send you any form of marketing material.”

Those who accept to move their business to OEM will need to apply for a new account with them from Tuesday, 22nd December 2020.

The news comes barely three months after OANDA acquired Polish broker, Dom Maklerski TMS Brokers SA, aka TMS Brokers, to grow across the Baltic countries. Established in 1997, TMS is the oldest and second-largest local Polish brokerage and is regulated under the Polish Financial Supervision Authority (KNF), giving the business access to markets in the European Union.

Brokers Are Assessing the Impact of Brexit Brexit Brexit stands for British Exit, or in reference to the United Kingdom’s decision to formally leave the European Union (EU) as declared in a June 23, 2016 referendum. In a more immediate sense, a tight vote and unexpected result helped drive British pound (GBP) to lows that had not been seen in decades.The day following the referendum, former Prime Minister David Cameron resigned from office where he was replaced by Theresa May, who later resigned from office on June 7th, 2019. Active Prime Minis Brexit stands for British Exit, or in reference to the United Kingdom’s decision to formally leave the European Union (EU) as declared in a June 23, 2016 referendum. In a more immediate sense, a tight vote and unexpected result helped drive British pound (GBP) to lows that had not been seen in decades.The day following the referendum, former Prime Minister David Cameron resigned from office where he was replaced by Theresa May, who later resigned from office on June 7th, 2019. Active Prime Minis Read this Term

At the time, OANDA signalled that it may close more of such deals, with the company stating that TMS is the first in a number of strategic acquisitions OANDA is looking to complete over the next couple of years.

Under Bambury’s leadership, the firm has undergone a transformative change in its operational configuration, widening its product offering and increasing its marketing investment in order to drive further growth.

OANDA is a multi-regulated broker with offices in Toronto, Europe and the Asia Pacific region. The ‎company operates an FX Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term utilized by a mix of retail and institutional investors. ‎Moreover, it provides currency information services to individuals, large corporations and portfolio ‎managers.‎

The move to expand its regulatory profile and geographic reach also comes as OANDA and other brokerage platforms are establishing new European bases ahead of the UK’s departure from the bloc.

The upcoming Brexit is likely to cause substantial changes in Europe’s regulatory environment, particularly the restrictions that will be placed on FCA regulated firms to passport into Europe

The current transition deal allows cross-border financial services to continue uninterrupted only until the end of 2020. But, after UK leaders fail to have their divorce settlement passed, this would leave EU customers cut off from the UK-based market operators if no contingency measures are set in place.