Oanda Opens in Australia
Oanda officially opened its offices in Australia last week, the local office is headed by Louis Cooper and the launch is part of what the firm says is its overall growth strategy in Asia-Pacific, a market that represented 24% of the company’s global growth in 2013.
“Oanda is bucking the overall industry trend. While there is a small decline in FX trading in markets such as Australia and Singapore, we have been growing steadily year-on-year across Asia,” says Rajesh Yohannan, managing director of Oanda Asia-Pacific. “We see Australia and New Zealand as significant growth opportunities given the relative size of the FX and CFD market in the region and the high demand we've seen from traders here.”
In a separate move, Oanda has appointed Daniel Skowronski as managing director in London.
Most recently the CEO of Alpari UK, Skowronski will lead strategy for Oanda Europe. Skowronski has more than 20 years of financial services experience having served in strategic roles in commercial banking, institutional and retail FX, and as a trader.
"There is strong growth potential for retail and institutional FX across Europe, the Middle East and Africa and with Daniel's experience and vision, he will lead Oanda's offerings in those markets,” says Ed Eger, president and CEO of Oanda.
FCM360 partners with Equinix in Tokyo
FCM360 has announced that its low latency financial cloud hosting service is now available to brokers and traders at Equinix TY3 in Tokyo.
FCM360 says that it hopes to increase it presence amongst to Asia's foreign exchange trading community with the addition of this enhanced cloud hosting to the TY3 data centre.
In addition to providing connections to Japan's two largest financial exchanges –Tokyo Financial Exchange (TFX) and Tokyo Commodity Exchange (TOCOM) – TY3 offers Forex traders and brokers colocation facilities at a major peering and internet exchange point for the Asia-Pacific region.
"FCM360 is the first managed services provider in Asia focusing on turnkey products to help FX brokers and liquidity providers. The hosting services help FX traders located in Asia improve executions and access to market pricing by providing low latency connections back to New York and London for liquidity and pricing," says Jubin Pejman, managing director of FCM360.
He adds: "Our adding hosting solutions in TY3 opens up the Asian marketplace for all of FCM360's forex broker clients and select electronic crossing networks (ECNs), as well as bridge providers wishing to install services and software near the world's fastest-growing forex market."
To further support its growing Asia-Pacific client base, FCM360 also added Mandarin Chinese and Japanese language support at its 24/7 network operations centre located in the US.
The TY3 data center location provides access to the same products, hardware services and dedicated technical support available to FCM360 clients at NY4, LD4, and CH2.
Saxo Bank Adds Six FX Forward Outright Crosses
Saxo Bank has added six new FX OTC forward outright crosses, increasing the total offering in forwards to 121 pairs. Forward outrights can be used not only to hedge corporate flow but also for the ordinary investor to cut out the unknown interest rate fluctuation risk in a foreign exchange rate speculation over time.
The foreign exchange rate crosses AUD/NOK, AUD/SEK, CAD/SEK, XAU/EUR, NZD/ZAR and NZD/MXN are now available for online trading for any value date out to one year.