OANDA executes 340% increase in average daily volume with zero rejections or requotes despite Brexit volatility

Noam Stiekema

Business as usual for OANDA customers as they trade through exceptionally uncertain times.

Brexit-British-Pound

San Francisco/London – June 30, 2016: OANDA a leading global provider of online foreign exchange (“Forex”, “FX”) and over-the-counter commodities, bonds and indices 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.”

About OANDA

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.

For more information, please visit www.oanda.com.

Read this next

Digital Assets

Swiss regulator shuts down CoinShares’ partially-owned FlowBank

Switzerland’s financial regulator, FINMA, has closed FlowBank SA and placed it into bankruptcy due to severe breaches of capital requirements and other supervisory laws. This follows a series of enforcement actions against the bank that began in October 2021.

blockdag

Presale Power Players: 5 Crypto Presales Primed for Success in 2024 According to Experts

Unlock the potential of the best presale cryptos available now. See why experts recommend BlockDAG, Bitbot, eTukTuk, 99Bitcoins Token, and ButtChain.

Executive Moves

Paxos axes 65 jobs, cuts headcount to below 300

Stablecoin issuer Paxos has laid off 65 employees, equating to 20% of its staff, despite maintaining a robust financial standing.

Institutional FX

US sanctions trigger major shifts in Russian FX market, says Sergey Romanchuk

The U.S. sanctions imposed on June 12 against the Moscow Exchange and its clearing entity, the National Clearing Center (NCC), are set to cause massive disruptions in the Russian currency market, according to FX industry veteran Sergey Romanchuk.

blockdag

BlockDAG’s X1 Miner App Beta Sparks $49.2M Presale Rise; Uniswap & XRP Whales Getting Involved?

Experience BlockDAG’s meteoric 1120% presale rise, Uniswap’s UNI climbing 18%, and Ripple’s XRP anticipating ETF approval. Explore their latest breakthroughs!

Market News, Tech and Fundamental, Technical Analysis

GBPUSD Technical Analysis Report 13 June, 2024

GBPUSD currency pair can be expected to fall further toward the next support level 1.2700, which has been reversing the price from last month.

Institutional FX

U.S. sanctions halt dollar and euro trading on Moscow Exchange

New U.S. sanctions against Russia have led to the immediate suspension of trading in dollars and euros on the Moscow Exchange (MOEX), the country’s largest exchange group.

Digital Assets

MicroStrategy raises $500M to buy more Bitcoin, now holds 214,400 BTC

MicroStrategy, the largest corporate investor in bitcoin, plans to raise $500 million through a convertible senior note offering, with an option for an additional $75 million.

Crypto Insider

7 Best Upcoming New Crypto Coins : From  World of Virtual and Augmented Reality

In 2024, all new buyers want to know about the best upcoming new crypto coins. For those who have invested before, you know that there are often “hidden gems” that can give you huge returns on your money.

<