Oanda expands pricing of Swiss franc cross rates
Oanda, the Canadian retail FX platform, has added 11 more currency cross pairs to its online trading platform, including the Swiss franc and the Hong Kong dollar, it said in a statement on July 16.
The increased provision of pricing for Swiss franc cross rates is the result of increasing interest in its reputation as a ‘safe haven’ currency amid continuing turbulence in the financial markets, particularly in Europe. Last month, Oanda opened an office in London as a base for its European subsidiary, as it seeks to attract more institutional clients. "We listened to the requests of our growing trader base in Europe and Asia," said Michael Stumm, CEO of Oanda Corporation, in the statement. "These new pairs should consolidate our reputation for outstanding forex liquidity in these two markets, as we continue to add pairs based on client demand."
Oanda traders now have access to 76 currency pairs, including all the major pairs and crosses to major Asian currencies such as the Hong Kong dollar, Thai baht and Indian rupee. Oanda remains the only large online forex broker to offer trading access to the Chinese yuan, which it introduced in 2007.