Press Release (ePRNews.com) - SYDNEY, Australia - Jul 03, 2016 - A global leader in online multi-asset trading services, OANDA reported record-breaking trading volumes on Friday 24 June 2016 following the UK’s decision to exit the European Union. The company confirmed all trades were executed seamlessly with no rejections and no requotes, despite intense market volatility and the rapid depreciation of the British pound against all major currencies.
Courtney Gibson, head of trading at OANDA, credits these unprecedented results to the company’s state-of-the-art trading technology and high-speed execution platform, which reduces latency and slippage. He commented, “We’re committed to improving our technology to better serve our clients. The UK’s vote to leave the European Union caused extreme market volatility, but our advanced execution technology allowed our clients to enter and exit the market extremely efficiently throughout.”
“The fact that we were able to execute 100% of trades with no rejections or re-quotes and were back to average spreads across key FX and CFD pairs well before the US market open is a testament to the speed and stability of our trading platform. Traders can be as prepared as possible for a market event such as Brexit, but if they don’t have the right partner they won’t be able to trade at the speed they demand. That’s why we continue to invest so heavily in our trading technology,” Gibson continued.
OANDA transformed the business of foreign exchange through an innovative approach to forex trading. The company’s industry leading online trading platform, fxTrade, introduced a number of firsts to the marketplace, including immediate execution; instant settlement on trades; trades of any size between one unit and 10 million units; and interest calculated by the second. Over the years, the company has been presented with a host of international awards, which attest to the power and flexibility of its world-class trading platform.
According to the 2015 Australia Foreign Exchange Report conducted by Investment Trends, Australian traders voted OANDA the industry leader for education, value for money, consistency of filling trades at the quoted price, commissions, research tools and ease of platform use.
OANDA was also the first online provider of comprehensive currency exchange information (http://www.oanda.com/currency/converter/), and today the company is trusted by some of the world’s leading audit firms, taxation authorities and corporates, all of whom turn to OANDA Rates® as the globally recognised standard for accurate exchange rates data. The firm counts global brands including Deloitte, KPMG, PWC, Twitter, Tesla, Expedia and Airbnb among its clients.
OANDA has eight offices worldwide, in Toronto, Chicago, New York, Boston, London, Singapore, Tokyo and Sydney. OANDA is fully regulated by the U.S. Commodity Futures Trading Commission (CFTC), the U.S. National Futures Association (NFA), the Monetary Authority of Singapore (MAS), the Investment Industry Regulatory Organization of Canada (IIROC), the UK Financial Conduct Authority (FCA), the Japanese Financial Services Agency (FSA), and the Australian Securities and Investments Commission (ASIC).
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