This was already announced on the pages of this blog three weeks ago but here goes the official announcement of OANDA receiving FSA’s approval and establishing European headquarters in London.
LONDON, June 22, 2011 — OANDA Corporation, provider of innovative online forex trading, highly competitive global currency transfers, and the world’s most accurate currency data, has opened an office in London to manage the company’s newest subsidiary, OANDA Europe Limited. The launch is part of OANDA’s goal to expand business development efforts in the UK and Europe and support existing clients with a stronger regional presence.
OANDA now has five offices worldwide, in New York, Singapore, Toronto, Dubai, and London. Each is fully regulated in its respective jurisdiction.
“OANDA has been on a sustained growth trajectory since we introduced our revolutionary forex trading platform, fxTrade, back in 2001; OANDA Europe marks another important phase of our global expansion strategy,” said Michael Stumm, CEO of OANDA Corporation. “Our UK and European clients will now have the advantages of trading under rules tailored to their jurisdiction. We look forward to delivering these clients more personal service along with the ultra-tight spreads, quality execution, and consistent liquidity they expect from OANDA.”
Antony Broadbent is managing director of OANDA Europe Limited. He brings more than 15 years of financial services experience to his role at OANDA. Broadbent has held a number of senior management positions at institutions regulated by the UK FSA, including Alliance Bernstein and Capital One. He also spent 10 years with leading international management consultants McKinsey & Company.
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“The launch of OANDA Europe is the culmination of a great deal of hard effort, and along the way we’ve gained a deep understanding of how to be more responsive to the needs of this market,” said Broadbent. “Currency traders in the UK and Europe are looking for pricing and liquidity; OANDA’s innovative approach delivers what they need, and more. Our open, flexible trading environment gives clients clear information about trading costs and the ability to trade the way they want to — without paying a penalty.”
Broadbent pointed out that nearly 40 percent of the world’s foreign exchange activity passes through the UK capital. “London is the centre of the global forex market. It makes perfect sense for OANDA to have a base here — it’s the ideal location from which to serve our clients all across continental Europe.”
OANDA Europe Limited is regulated by the UK Financial Services Authority (FSA), an independent body granted a wide range of rule-making, investigatory and enforcement powers by the Financial Services and Markets Act 2000. For more information please visit http://fxtrade.oanda.co.uk.
OANDA started in 1995 as the first online provider of comprehensive currency exchange information. Since then the OANDA Rate® has become the benchmark for corporations, tax authorities, auditing firms, and central banks. In 2001 OANDA launched fxTrade, the first fully automated online forex trading platform. fxTrade was the first platform to offer immediate execution, support trades and accounts of any size, enable true 24/7 trading, and eliminate the rollover swap by calculating interest by the second. OANDA’s innovative technology has enabled it to sustain a large trading volume. Peak performance has been measured at 1.5 million trades a day, far exceeding the volume typically handled through any of the leading global banks or electronic communication networks (ECNs) that trade forex. OANDA also offers global currency transfers through a fast, efficient, automated platform at ultra-competitive prices.
OANDA Corporation is a registered Futures Commission Merchant (FCM) with the U.S. Commodity Futures Trading Commission (CFTC) and is a forex dealer member of the U.S. National Futures Association (NFA). OANDA Corporation owns the following subsidiaries: OANDA Asia Pacific Pte Ltd, regulated by the Monetary Authority of Singapore with a Capital Markets Services license; OANDA Middle East Corporation Ltd., with a license from the Dubai Financial Services Authority (DFSA); OANDA Canada, regulated by the Investment Industry Regulatory Organization of Canada (IIROC); and OANDA Europe Limited, regulated by the Financial Services Authority (FSA) of the UK.