Oanda Purchases GFM Solutions Group
A global leader in online multi-asset trading services and currency data and analytics, OANDA has acquired GFM Solutions Group, a well-known risk management and financial reporting company offering cutting-edge software that enables corporate treasury, accounting and finance teams to better manage the impact of currency-related exposure in their business. The purchase marks the first acquisition OANDA has made since being bought by CVC Capital Partners (CVC) Asia Fund IV in May 2018 (subject to regulatory approvals) and will further build on OANDA’s existing corporate FX solutions, helping treasurers and finance directors mitigate currency risk and optimise efficiencies.
Vatsa Narasimha, CEO and President of OANDA, commented, “OANDA’s data and analytics business is one of our key business divisions, already well established as the pre-eminent source of currency data for world-leading institutions and corporations. The acquisition of GFM complements our existing currency data offering by providing a comprehensive analytics solution that enables corporate clients to effectively manage their currency exposure.”
GFM is the first in a number of strategic acquisitions that OANDA is looking to complete in the next 18 months following the change of ownership to CVC Capital Partners. Managing Partner of GFM, Charles Brobst will join OANDA as Managing Director of the firm’s Analytics division. He commented on the deal, “Trusted for accuracy and reliability by some of the world’s leading top audit firms, multinational corporations and tax authorities, OANDA’s currency data is widely regarded as the gold standard, so it made perfect sense for the GFM team to join forces in order to help clients reduce currency exposure and mitigate risk. We’re very much looking forward to working together over the coming years.”
GFM offers a host of financial risk advisory software as a service (SaaS) solutions including exposure measurement and management, hedge accounting and financial reporting, financial instrument valuation and regulatory compliance and risk management policy implementation. These automated solutions ensure the ready-auditability of client data and processes and help reduce risk associated with key employees. GFM’s software also helps improve organisational communication and transparency while creating a means to monitor policy, accounting and regulatory compliance. Learn more about OANDA’s risk management offerings here.
Meanwhile, The OANDA Exchange Rates API provides access to daily averages, spot and forward rates, central bank exchange rates and tick-level data for 38,000+ currency pairs, over 200 currencies, commodities, and precious metals, as well as exchange rates sourced from 25 central banks and historical currency rates that date back to 1990. The company leverages its access to a full range of interbank liquidity, proprietary trading technology and pricing algorithms to calculate accurate exchange rates based on actual forex transactions, giving users a true reflection of the forex market.
The OANDA Exchange Rates API and related products are available through OANDA Global Corporation, which was acquired by CVC Capital Partners (CVC) Asia Fund IV in May 2018 (subject to regulatory approvals).
The deal should boost the firm's LME operations in Germany, say officials.
The deal entails the acquisition of three of the firm's brokerage businesses.
Schwab estimates a $1.8B to $2B run-rate expense synergies within three years of the deal's close.
The acquisition extends the vendor's SaaS offerings to private debt markets.
The purchase should bolster the firm's trading technology and quantitative research.