OANDA, a leading provider of forex and CFD trading instruments, has teamed up with AdvantageGO to provide real-time foreign exchange rate data.
Under the terms of the agreement, OANDA’s Exchange Rates API will power AdvantageGO’s Currency Services. This will provide clients an access to accurate exchange rates for more than 200 currencies.
“OANDA Rates are trusted by the world’s leading audit firms, taxation authorities, and global corporations, but until recently they have been primarily used for financial reconciliation, tax and audit purposes. The AdvantageGO partnership represents OANDA’s first direct platform integration designed to help insurance companies better manage their policy risk,” said Mohsin Siddiqui, Managing Director of the Americas at OANDA.
“Companies that trade internationally are at the mercy of global currency fluctuations. They need access to real-time data that will enable them to make confident, better-informed decisions to mitigate risk. As a leading provider of cloud-based insurance software dedicated to helping companies mitigate insurance policy risk, we wanted to partner with an organization that truly defines the gold standard in foreign exchange data services. OANDA is a reputable company that is trusted by millions of individuals and leading global brands. As such, they were a natural choice,” said Adrian Morgan, Executive Vice President and Head of AdvantageGo at NIIT Technologies.
AdvantageGo provides commercial insurance and reinsurance software. The firm is a part of NIIT Technologies, which is a global IT organization focusing on Banking, Insurance, Transportation and Travel.
OANDA was established in 1995 by Dr. Michael Stumm and Dr. Richard Olsen. The first product that was offered was in a form of website providing free currency conversion tools and historical currency data to the public.
Nowadays, the company facilitates forex and commodity CFD trading for customers across the world. The broker is considered safe, as it is regulated by regulators such as UK FCA and the Australian ASIC.
OANDA was acquired by CVC Capital Partners in May 2018.