FX brokerage firm OANDA has selected FairXchange to provide clients with an independent analysis of execution performance.
The deal enables OANDA to deliver access to tools and techniques that help its clients manage and optimise their eFX businesses in an increasingly complex market environment. Also, the company will be using FairXchange to help its clients gain more transparency and provide them with insights for their FX trading activity.
OANDA is a multi-regulated broker with offices in Toronto, Europe, and the Asia Pacific region. The company operates an FX trading platform utilized by a mix of retail and institutional investors. It also provides currency information services to individuals, large corporations, and portfolio managers.
By choosing FairXchange, OANDA can address the growing challenges in respective jurisdictions presented by ongoing regulatory changes. It offers customers the ability to conduct analysis across a variety of metrics for each trade.
The firm’s analytical framework, Horizon, provides metrics that help clients analyze the different events associated with FX trading alongside the actual fills. Horizon takes a large data-set of any trading event that can be captured electronically and compares it to market data at the time.
Commenting on the partnership, OANDA’s Head of Trading, Mark Chesterman said, “Over the course of our 24-year history, OANDA has worked hard to build a reputation for transparency and fairness, and we remain as committed to this ethos as ever. As such, we’ve partnered with FairXchange in order to facilitate open conversations with our liquidity partners using market-leading microstructural analysis, enabling mutually-beneficial decision-making grounded in data science. We believe a strong partnership with our liquidity partners will ultimately lead to better, more consistent, and tighter pricing to our clients.”
FairXchange’s CEO, Guy Hopkins, added, “We are delighted to be partnering with OANDA, one of the true pioneers of the electronic trading industry. Our core philosophy is that everyone in financial markets – both liquidity consumers and providers – should be able to transact in a way that is commercially sustainable in the long term. Being truly independent, we are ideally placed to provide a fully transparent and impartial offering to OANDA.”