OANDA executes 340% increase in average daily volume with zero rejections or requotes despite Brexit volatility
Business as usual for OANDA customers as they trade through exceptionally uncertain times
San Francisco/London - June 30, 2016: OANDA a global leader in online multi-asset trading services, has announced that its clients recorded record-high trading volumes on Friday following the UK’s decision to exit the European Union.
OANDA says despite intense market volatility and the depreciation of Sterling against all major currencies on Friday and Monday, all trades were executed seamlessly, with no trades rejected by OANDA and no trades requoted to customers.
OANDA’s commitment to providing its customers with the most advanced trading technology and an execution platform which reduces latency and slippage, is why OANDA clients were able to execute so efficiently.
Courtney Gibson, Head of Trading at OANDA, comments: “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 rejects or re-quotes, and were back to average spreads across key CFD and FX pairs well before 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 trading partner, traders won’t be able to trade at the speed they demand.”
“That’s why OANDA will continue to invest in improving its trading technology.”
OANDA transformed the business of foreign exchange through an innovative approach to online trading. The company’s industry-leading online trading platform introduced a number of firsts to the marketplace, including automated execution; instant settlement on trades; trades of any size between one unit and 10 million units; and interest calculated by the second. In 2015, OANDA was honoured to receive the “Best Customer Service” and “Best Mobile Platform” awards in Investment Trends’ 2015, USA Leveraged FX Reports; “Overall Client Satisfaction”, “Customer Service” and “Value for Money” in Investment Trends 2015 UK Financial Spread Betting, CFD & FX Report; “No. 1 FX Broker for High-Value Clients” and “Largest FX Broker by primary market share” in Investment Trends 2015 Singapore CFD & FX Report; and "Value for Money" and "Educational Materials" in Investment Trends, 2015 Australia FX Report.
OANDA was the one of the first online provider of comprehensive currency exchange information, and today the company’s OANDA Exchange Rates® data provides benchmark rates for corporations, auditing firms, and global banks.
OANDA has seven offices worldwide, Toronto, San Francisco, New York, 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).
Leveraged trading is high risk and may not be suitable for everyone as your losses may exceed your investment.
OANDA Corporation is located at 185 Berry Street, Suite 4700, San Francisco, CA, USA, 94107.
Direct: +44 (0) 20 7242 8867