Oanda, the New York-based foreign exchange brokerage group famous for its retail FX operation, has launched an institutional trading platform for professional FX traders, from hedge funds and brokers to CTAs and proprietary trading firms.
OANDA Pro will be powered by State Street’s Currenex, a leading provider of high-performance technology and deep pools of liquidity, in order to meet the advanced requirements of professional traders.
Vatsa Narasimha, President and Chief Executive Officer of OANDA Corporation, commented:
“Over the course of our 22-year history, we’ve combined our passion for innovation with ground-breaking technology to better serve our retail clients. Now for the first time, the launch of OANDA Pro enables us to also cater to the more sophisticated needs of institutional traders, providing them with access to a fully customizable platform, deep liquidity pools and real-time pricing that ensures a comprehensive view of the market at all times. We’re delighted to be partnering with Currenex to deliver an award-winning institutional solution to our professional FX traders.”
These institutional FX trading accounts are held by OANDA Corporation, a US-based entity. The liquidity that OANDA Pro delivers into a single Central Limit Order Book comes from multiple streaming banks, non-banks and through the Currenex anonymous ECN.
OANDA Pro provides institutional clients with access to a wide range of features including advanced order types, algorithmic trading, full market-depth view with attributed prices, charting and a suite of adjustable parameters. Customers will be able to execute their trades through a fully customizable user interface — whether java-based or HTML5 GUI. Execution and market data consumption is also supported via FIX, ITCH, and OUCH API protocols.
James Reilly, Head of Currenex, commented on the partnership:
“We are very pleased that OANDA has chosen Currenex to provide the technology and liquidity aggregation for their new institutional offering. With OANDA PRO, OANDA clients will be in a position to leverage the significant investments Currenex has made to develop a new advanced and intelligent HTML5 GUI. We look forward to continuing to work closely with the team at OANDA to help them and their client base take full advantage of all our solutions.”
The announcement comes a month after the appointment of Warren Faleiro as Chief Technology Officer of OANDA and almost a full year after the addition of TradingView’s customizable charts and community-powered technical analysis to the broker’s institutional-grade execution engine, fully-automated risk management systems and transparent pricing model.