TOKYO, August 22, 2011 /PRNewswire/ --
New York-based forex dealer establishes OANDA Japan to better support institutional and retail clients in Asia Pacific
OANDA Corporation, a provider of innovative online forex trading, competitive global currency transfers, and the world's most accurate currency data, has established a new operation, OANDA Japan Incorporated. The Tokyo-based subsidiary will support OANDA's rapidly growing institutional client base in Japan, and help fulfill the company's aggressive business development efforts across the Asia Pacific region.
"Institutional traders, particularly those in Japan, have long expressed a strong desire to access OANDA's ultra-competitive spreads and deep forex liquidity," said Michael Stumm, CEO of OANDA Corporation. "We launched OANDA Japan in response to a clear need in the Japanese forex market-the third most active forex trading market in the world-for low spreads and reliable liquidity sources."
To establish a strong foothold in the Japanese market, OANDA acquired a majority stake in Japanese broker MyGaika in October 2010. Renamed OANDA Japan Inc., this subsidiary takes advantage of liquidity and technology from OANDA Corporation while otherwise operating as an independent organization. OANDA Japan manages risks and sources liquidity independently, so its platform pricing will vary from that of OANDA Corporation and its other subsidiaries. Leverage is restricted to a maximum of 25:1, in accordance with Japanese financial regulations.
Tomitaka Ishimura is Managing Director of OANDA Japan Inc. Ishimura has a degree in economics from Osaka National University and brings solid experience in financial institutions, including trust banks where he was responsible for managing securities and forex trading services.
"OANDA represents an attractive alternative for forex traders in Japan," said Ishimura. "I am pleased to launch OANDA's trading platform in the Japanese market, as the company's focus on applying innovative thinking and technology to improve efficiency in forex trading will be of great benefit to customers here."
OANDA Japan is regulated by the country's Financial Services Agency (FSA), a government organization that aims to ensure the stability of the Japanese financial system through oversight of banking, securities and exchange, and insurance.
OANDA Corporation has transformed the business of foreign exchange through an innovative approach to forex trading. The company's online trading platform, fxTrade, introduced a number of firsts to the marketplace, including immediate execution; trades and accounts of any size; 24/7 trading; and interest calculated by the second, eliminating the need for rollover swaps. OANDA was the first online provider of comprehensive currency exchange information, and today the company's OANDA Rate® data is the benchmark for corporations, tax authorities, auditing firms, and central banks. OANDA also offers global currency transfers through a fast, efficient, automated platform at ultra-competitive prices.
OANDA Corporation has six offices worldwide, in New York, Singapore, Toronto, Dubai, London, and Tokyo. Each office is fully regulated in its respective jurisdiction.
OANDA Japan, Tokyo
OANDA Asia Pacific, Singapore
T: +65-3106-2144 x 2104
SparkPR, New York
BCS PR, London