OANDA

OANDA is a Canadian-based foreign exchange company providing currency conversion, online retail foreign exchange trading (forex), online foreign currency transfers, and forex information. In the US it is a non-bank Futures Commission Merchant (FCM) specialized in spot forex trading and a registered FCM with the Commodity Futures Trading Commission (CFTC) and a member of the National Futures Association (NFA).
History
OANDA was co-founded by Michael Stumm, a professor of Computer Engineering at the University of Toronto, and Richard Olsen of The Olsen Ltd., a leading econometric research, and development firm.
OANDA is an outgrowth of the Swiss Olsen Group and was created to serve as an internet trading platform to automate techniques based on the group's research in foreign exchange trading. Much of OANDA's technology is based on algorithms published in the book High Frequency Finance, which was co-authored by Dr. Richard Olsen, a principal of OANDA and co-inventor of these algorithms.
In 1996, OANDA Corporation, the US subsidiary, was incorporated in the state of Delaware, and initially provided online access to live currency information that was previously inaccessible to the public at large. At its inception, oanda.com offered free currency conversion tools, tables of historical data, news, and analysis through a multilingual interface.
On December 2, 2013, OANDA appointed Edmond Eger III as a new CEO in place of K Duker.
Operations
The company’s main product is their electronic trading platform fxTrade, currency conversion tools, a foreign exchange wire service (fxGlobalTransfer), a corporate hedging consulting service (FXConsulting), discussion forums, tables of historical currency data, as well as foreign exchange news and analysis. They also provide conversion tools and currency charts and indexes and information for travelers. Mathematician Benoît Mandelbrot mentioned OANDA's fxTrade platform as one example of how the foreign exchange market works when small investors and big investors are set on an equal footing, having removed the unfair commission structure.

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