New York, US, February 26, 2024 — OANDA Corporation, the OANDA Group’s US-based subsidiary, today confirmed that it was required by its regulator, the National Futures Association (NFA), to re-file its CFTC Form 1-FR-FCM statements in respect of several months during 2023. All affected statements were submitted on February 16, 2024.

The NFA required these statements to be resubmitted because it determined that OANDA’s intercompany hedging program was not compliant with certain NFA rules.  The program was designed to manage the OANDA Group’s currency translation adjustment by converting the net assets of foreign subsidiaries from their local operating currency to USD, which is the OANDA Group's consolidated reporting currency.  The program did not involve the hedging of exposure resulting from customer transactions.

OANDA Corporation continues to engage with and cooperate with its regulator, and the OANDA Group is confident that its capital position remains unaffected and that its regulatory controls are appropriate.