OANDA Partners with Currenex to Deliver Institutional Platform

Having solidified itself in the retail space, OANDA is now making inroads into the institutional segment with the launch of OANDA Pro. Powered by State Street's Currenex, the new platform will help cater to a growing institutional client base, including hedge funds, brokers, CTAs, proprietary trading firms, and others.

Per the new partnership, OANDA Pro will help deliver Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term from multiple streaming banks, non-banks, as well as Currenex’s ECN, all into a consolidated Central Limit Order Book. The initiative allows OANDA to expand its market footprint into the institutional space, amidst rising demand.

This stance was reiterated by Vatsa Narasimha, President & CEO of OANDA Corporation, who commented: “Now for the first time, the launch of OANDA Pro enables us to also cater to the more sophisticated needs of institutional traders, providing them with access to a fully customizable platform, deep liquidity pools and real-time pricing that ensures a comprehensive view of the market at all times.”

OANDA Pro will also be supported by a low-latency network – consequently, institutional clients will be able to execute their trades via a fully customizable user interface. This includes access to both Java-based or HTML5 GUI, in tandem with a diverse suite of features.

This includes among others, advanced order types, algorithmic trading, full market-depth view with attributed prices, charting and a suite of adjustable parameters. Moreover, execution and market data consumption are also supported via FIX, ITCH, and OUCH API protocols.

The launch of OANDA Pro will be vital to supporting the group’s growing institutional trading capabilities. "We are very pleased that OANDA has chosen Currenex to provide the technology and Liquidity Aggregation Liquidity Aggregation Aggregation or liquidity aggregation can be characterized as the process of gathering buy and sell orders from different sources and directing them to a given executing party. This is most commonly done from multiple sources to minimize the risks from using a single liquidity provider. By aggregating liquidity from multiple sources, the broker is able to increase the depth of market it offers to its clients and therefore deliver better fills on the order flow when compared to when it uses a sing Aggregation or liquidity aggregation can be characterized as the process of gathering buy and sell orders from different sources and directing them to a given executing party. This is most commonly done from multiple sources to minimize the risks from using a single liquidity provider. By aggregating liquidity from multiple sources, the broker is able to increase the depth of market it offers to its clients and therefore deliver better fills on the order flow when compared to when it uses a sing Read this Term for their new institutional offering," explained James Reilly, Head of Currenex.

"With OANDA PRO, OANDA clients will be in a position to leverage the significant investments Currenex has made to develop a new advanced and intelligent HTML5 GUI. We look forward to continuing to work closely with the team at OANDA to help them and their client base take full advantage of all our solutions,” he added.