The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.
Foreign Exchange

Bill Gates takes Oanda stake

I was off to ABN Amro’s offices in London on Tuesday night for a few swift sherbets at a cocktail reception. This was being held to announce the bank’s official launch of its marketindex retail trading platform in the UK.

As readers of Euromoney know, the technology behind marketindex is provided by Oanda (see ABN Amro launches foray into retail FX and other assets, July 2006). ABN successfully launched marketindex to German clients in June 2006 and has subsequently made it available in Austria and Switzerland. The UK is seen as the next challenge.

Oanda’s founders and joint chief executives, Michael Stumm and Richard Olsen, were both at the reception. I’ve watched the progress of Oanda for several years, as Alan Fletcher, one of my old muckers from Midland, is the company’s head trader. But I’ve never actually met Michael or Richard, both of whom can be rightly classified as boffins. These two have brought a different approach to the FX industry; Zafar Alam, global head of private investor products at ABN Amro, was not wrong when he described Oanda, which was founded in 1996, as a pioneer in algorithmic trading. Almost from day one, Oanda has utilized innovative risk management solutions and deployed technology that is the envy of many banks.

The result is that it can enable its clients to trade any amount from a single dollar up, which obviously generates a mass of tickets, as well as providing real-time interest.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree