OANDA Introduces Multi-Client Forex Trading Interface
Automated trading interface lets investment managers focus on trading for their clients, not on administration
New York, July 23, 2007 — OANDA Corporation, trendsetter in Internet-based forex trading and global leader in currency information services, introduces FXManager, an interface for forex investment managers to support multi-client trade execution and reporting. FXManager continues the OANDA tradition of full automation, efficiency and ease of use.
FXManager is a full Percentage Allocation Money Manager (PAMM) solution: the investment manager trades on FXTrade using one aggregate account, with each order automatically split across multiple client accounts based on the investment managerb's pre-defined allocation instructions. Fee calculations are applied automatically according to fee schedules, also predefined by the investment manager. The investment manager controls the behavior of FXManager through simple, spreadsheet-like tables. Numerous manager reports are updated automatically in real time. Clients have their own logins and can access the latest account information at any time. Other custodial features, such as client onboarding and client fund allocation, require minimal manager involvement.
FXManager underwent extensive beta testing to ensure it was the right solution. Says Michael Stumm, president of OANDA, "Based on the overwhelming uptake of FXManager and the positive feedback so far, this type of interface was long overdue."