MiFID II rules to affect OANDA’s trade execution through TradingView for European clients
Effective December 16, 2017, OANDA is required to restrict API trade execution from third-party platforms for European clients (Motivewave, TradingView, Seer, MultiCharts, etc.).
TradingView, a rather popular charting resource for active traders, is today drawing the attention of European clients of online trading services provider OANDA Corp, to a recent announcement made by the broker:
“On 16 December 2017 Oanda is required to restrict API trade execution from 3rd party platforms for European clients (Motivewave, TradingView, Seer, MultiCharts, etc.). You may still use a 3rd party platform for trading analysis, however, you will no longer be able to execute trades on 3rd party platforms that execute trades via an API.
Your OANDA account enables you to execute trades through OANDA proprietary platforms or MT4. This change is required to enable OANDA to meet the anticipated regulatory requirements at the beginning of 2018, and consequently for you to be able to continue to trade with OANDA.”
As FinanceFeeds has reported earlier, OANDA Europe Limited, a subsidiary of OANDA Corp, is bracing itself for the new MiFID II regulations, with the changes to affect the services it offers to its clients. OANDA said that all legacy trade accounts registered with OANDA Europe Limited will be migrated to V20 trade accounts by early December this year. The change will affect open positions too.
In addition to the account migration, the v1 REST API and the Java SDK will no longer be available. An update posted on OANDA’s forum states that API/Java SDK clients are to be migrated on January 19, 2018. If clients have not received a migration email from OANDA with the January 19th date, they are asked to email [email protected] so that the broker can ensure their account will be migrated at the January date.
OANDA has also released special versions of its mobile trading apps as a part of the migration of the European clients to the new services.
OANDA launched the v20 trading engine about a year ago, as it celebrated its 20th anniversary. The engine is built on a multi-cluster machine architecture which redefines the way data flows through the system and allows OANDA to increase speeds significantly. In addition to institutional-grade speeds, v20 offers professional features such as: access to more order types and options than ever before; support for simultaneous long and short positions; and the ability to execute larger trade sizes through simulated depth of market features.
