Description
OANDA Corporation is a financial services provider, currency trading platform and business-to-business application service provider (ASP) that offers internet-based foreign exchange trading and currency information. The firm says it services over 75,000 ASP clients around the world. OANDA is a registered Futures Commission Merchant and a member of the National Futures Association.
History
OANDA was founded in 1995 and was the first to offer online access to a variety of currency exchange-rate information free of charge. It was co-founded by Michael Stumm, a professor of computer engineering at the University of Toronto and Richard Olsen of The Olsen Ltd., a top econometric research and development firm.
In 1996, the company was incorporated in the state of Delaware.
In 2001, OANDA launched fxTrade, which provides clients with real-time access to the foreign exchange market.
In 2008, OANDA launched fxGlobalTransfer, a fully automated, online funds transfer service designed to offer clients a secure and convenient way to send funds globally.
On Sunday, June 17, 2012 during an election in Greece, OANDA halted the acceptance of trading instructions between 1100 GMT and 1900 GMT in order to "limit its exposure to irregular price swings". This marked the first time the firm had suspended trading for a macroeconomic event.
