OANDA Europe to migrate legacy trade accounts to V20
The accounts will be migrated by early December this year, as the company braces for the MiFID II rules.
OANDA Europe Limited, a subsidiary of online trading services provider OANDA Corp, is bracing itself for the new MiFID II regulations, with the changes to affect the services it offers to its clients.
In a note to its clients, posted on Wednesday, 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 as of that time.
Below is the full text of OANDA’s message:
“In order to support the MiFID 2 regulations, all legacy trade accounts registered with OANDA Europe Limited will be migrated to V20 trade accounts by early December of this year. As such, the v1 REST API and the Java SDK will no longer be available as of that time.
We do appreciate that this is very short notice as porting from Legacy to V20 is a large undertaking.
There are resources available on our developer portal to help you migrate your applications. Specifically, we have reference implementations located at http://developer.oanda.com/rest-live-v20/sample-code/. Also, feel free to contact [email protected] for more information or if you require assistance.”
OANDA launched the v20 trading engine about a year ago, as it marked 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.
The company has introduced V20-related enhancements to its mobile apps too. For instance, OANDA’s fxTrade mobile application for Android-based devices has made the use of all Trade Default types available for owners on v20 accounts too. In June this year, FinanceFeeds reported of OANDA launching a new feature called Price Signal on its mobile apps for the v20 clients. The feature was first launched on iOS devices and was shortly thereafter introduced on Android devices too.
