SINGAPORE, 1 July 2016 – A global leader in online multi-asset trading services, OANDAreported record-breaking trading volumes on Friday 24 June 2016 following the UK’s decision to exit the European Union. The company confirmed all trades were executed seamlessly with no rejections and no requotes, despite intense market volatility and the rapid depreciation of the British pound against all major currencies.
Courtney Gibson, head of trading at OANDA, credits these unprecedented results to the company’s state-of-the-art trading technology and high-speed execution platform, which reduces latency and slippage. He commented, “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 rejections or re-quotes and were back to average spreads across key FX and CFD pairs well before the 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 partner they won’t be able to trade at the speed they demand. That’s why we continue to invest so heavily in our trading technology,” Gibson continued.
NOTES FOR EDITORS
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.
OANDA was recently named the No. 1 FX Broker and the No. 1 FX Broker for High-Value Clients by number of primary relationships for the second year running, according to the Investment Trends 2015 Singapore CFD & FX Report, based on a survey of 11,327 investors/traders. The firm was also voted Singapore’s Most Preferred Forex Provider at the ShareInvestor Awards 2015 and Best CFD Broker APAC 2015 at Global Banking & Finance Review Awards – 2015, published by Global Banking & Finance Review magazine.
OANDA was one of the first online providers of comprehensive currency exchange information, and today the company’s Exchange Rates® data provides benchmark rates for corporations, auditing firms, and global banks.
OANDA has seven offices worldwide in Toronto, San Francisco, New York, London, Singapore, Tokyo, and Sydney. The firm 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).
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