UKForex
Encyclopedia
UKForex is an online deliverable
foreign exchange
provider based in Moorgate, London
and is part of the OzForex
group.
The company services migrants transferring financial assets, individuals investing overseas and expatriates repatriating funds as well as small and medium-sized businesses that import
and export
goods.
The website
provides historical charts, information on how to manage exchange rate exposure and real-time exchange rates for dozens of currencies.
was launched as a foreign exchange information only site in Sydney
, Australia
in 1998. In April 2001, the online dealing facility was launched.
August 2005, UKForex was launched from its original office in Blackfriars, London. The opening of the London office saw the launch of the groups’ 24 hour global trading platform, allowing access to live exchange rates and online money transfers 24 hours a day.
In June 2007 Macquarie purchased 51% of OzForex, new CEO Neil Helm joins from Macquarie.
In July 2007, CanadianForex
was launched in Toronto
, Canada
to focus on North American markets and to help facilitate the groups’ 24 hour system.
September 2008, UKForex moves to its current location in Moorgate, London as both turnover and the number of employees grow.
In 2009 the group completes over 200,000 funds transfers per year with a turnover of close to US$5 billion.
In November 2010, the group receives minority growth investment from Accel Partners
and The Carlyle Group
. Representatives from both Accel Partners and Carlyle will serve on the OzForex Board of Directors. The company's founders and Macquarie Private Wealth, which is part of Macquarie Group
, are together retaining significant ownership of OzForex, and Neil Helm will continue as CEO.
, BRW Fast 100 Awards
2005 – Deloitte Technology Fast 50 Awards
2006 - Finalist Invest UK Trade and Investment International Business Awards
2008 - OzForex founder Matt Gilmour wins Ernst & Young
Entrepreneur of the Year, in the Technology and Emerging Industries category
2009 – Deloitte Fast 500
Technology Asia Pacific Awards and Deloitte Technology Fast 50 Awards
2010 – Deloitte Technology Fast 50 Awards
, which is subjected to risk and compliance audits on an annual basis.
In the United Kingdom
under the Money Laundering
Regulations 2003, commercial foreign exchange companies are treated as "Money Service Businesses" which are covered by regulations administered by HM Revenue & Customs.
UKForex Limited holds a certificate of registration for Money Laundering Regulation (MLR). Registration number: 12219180.
Deliverable
Deliverable is a term used in project management to describe a tangible or intangible object produced as a result of the project that is intended to be delivered to a customer . A deliverable could be a report, a document, a server upgrade or any other building block of an overall project.A...
foreign exchange
Foreign exchange market
The foreign exchange market is a global, worldwide decentralized financial market for trading currencies. Financial centers around the world function as anchors of trading between a wide range of different types of buyers and sellers around the clock, with the exception of weekends...
provider based in Moorgate, London
London
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
and is part of the OzForex
OzForex
OzForex is an online foreign exchange and global payments provider and a strategic investment of , and the . OzForex is part of the OzForex Group which also includes UKForex, CanadianForex, NZForex, ClearFX and Tranzfers....
group.
The company services migrants transferring financial assets, individuals investing overseas and expatriates repatriating funds as well as small and medium-sized businesses that import
Import
The term import is derived from the conceptual meaning as to bring in the goods and services into the port of a country. The buyer of such goods and services is referred to an "importer" who is based in the country of import whereas the overseas based seller is referred to as an "exporter". Thus...
and export
Export
The term export is derived from the conceptual meaning as to ship the goods and services out of the port of a country. The seller of such goods and services is referred to as an "exporter" who is based in the country of export whereas the overseas based buyer is referred to as an "importer"...
goods.
The website
Website
A website, also written as Web site, web site, or simply site, is a collection of related web pages containing images, videos or other digital assets. A website is hosted on at least one web server, accessible via a network such as the Internet or a private local area network through an Internet...
provides historical charts, information on how to manage exchange rate exposure and real-time exchange rates for dozens of currencies.
Company history
OzForexOzForex
OzForex is an online foreign exchange and global payments provider and a strategic investment of , and the . OzForex is part of the OzForex Group which also includes UKForex, CanadianForex, NZForex, ClearFX and Tranzfers....
was launched as a foreign exchange information only site in Sydney
Sydney
Sydney is the most populous city in Australia and the state capital of New South Wales. Sydney is located on Australia's south-east coast of the Tasman Sea. As of June 2010, the greater metropolitan area had an approximate population of 4.6 million people...
, Australia
Australia
Australia , officially the Commonwealth of Australia, is a country in the Southern Hemisphere comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands in the Indian and Pacific Oceans. It is the world's sixth-largest country by total area...
in 1998. In April 2001, the online dealing facility was launched.
August 2005, UKForex was launched from its original office in Blackfriars, London. The opening of the London office saw the launch of the groups’ 24 hour global trading platform, allowing access to live exchange rates and online money transfers 24 hours a day.
In June 2007 Macquarie purchased 51% of OzForex, new CEO Neil Helm joins from Macquarie.
In July 2007, CanadianForex
CanadianForex
CanadianForex Limited is an online foreign exchange and global payments provider based in Toronto, Canada and is part of the OzForex Group.CanadianForex launched its North American office in 2008 and provides live exchange rates for a wide range of major currencies as well as exotic currencies...
was launched in Toronto
Toronto
Toronto is the provincial capital of Ontario and the largest city in Canada. It is located in Southern Ontario on the northwestern shore of Lake Ontario. A relatively modern city, Toronto's history dates back to the late-18th century, when its land was first purchased by the British monarchy from...
, Canada
Canada
Canada is a North American country consisting of ten provinces and three territories. Located in the northern part of the continent, it extends from the Atlantic Ocean in the east to the Pacific Ocean in the west, and northward into the Arctic Ocean...
to focus on North American markets and to help facilitate the groups’ 24 hour system.
September 2008, UKForex moves to its current location in Moorgate, London as both turnover and the number of employees grow.
In 2009 the group completes over 200,000 funds transfers per year with a turnover of close to US$5 billion.
In November 2010, the group receives minority growth investment from Accel Partners
Accel Partners
Accel Partners is a global venture and growth equity firm funding companies from inception through the growth stage.The firm is based in Palo Alto, California with major offices in Bangalore, Beijing, London, and Shanghai....
and The Carlyle Group
Carlyle Group
The Carlyle Group is an American-based global asset management firm, specializing in private equity, based in Washington, D.C. The Carlyle Group operates in four business areas: corporate private equity, real assets, market strategies and fund-of-funds, through its AlpInvest subsidiary...
. Representatives from both Accel Partners and Carlyle will serve on the OzForex Board of Directors. The company's founders and Macquarie Private Wealth, which is part of Macquarie Group
Macquarie Group
Macquarie Group Limited is a global investment banking and diversified financial services group, providing banking, financial, advisory, investment and funds management services to institutional, corporate and retail clients and counterparties around the world...
, are together retaining significant ownership of OzForex, and Neil Helm will continue as CEO.
Group Awards
2005 – Business Review WeeklyBusiness Review Weekly
BRW is an Australian weekly business magazine published by the Fairfax Media group. It regularly compiles lists which rank corporations and individuals according to various criteria, similar to Fortune magazine in the United States.BRW provides news and commentary on the economy, business and...
, BRW Fast 100 Awards
2005 – Deloitte Technology Fast 50 Awards
2006 - Finalist Invest UK Trade and Investment International Business Awards
2008 - OzForex founder Matt Gilmour wins Ernst & Young
Ernst & Young
Ernst & Young is one of the largest professional services networks in the world and one of the "Big Four" accountancy firms, along with Deloitte, KPMG and PricewaterhouseCoopers ....
Entrepreneur of the Year, in the Technology and Emerging Industries category
2009 – Deloitte Fast 500
Deloitte Fast 500
The Deloitte Technology Fast 500 Awards are run and moderated by Deloitte Touche Tohmatsu Limited. They recognize the 500 fastest-growing technology companies in regions around the world...
Technology Asia Pacific Awards and Deloitte Technology Fast 50 Awards
2010 – Deloitte Technology Fast 50 Awards
UK Regulation
UKForex Limited is a wholly owned subsidiary of OzForexOzForex
OzForex is an online foreign exchange and global payments provider and a strategic investment of , and the . OzForex is part of the OzForex Group which also includes UKForex, CanadianForex, NZForex, ClearFX and Tranzfers....
, which is subjected to risk and compliance audits on an annual basis.
In the United Kingdom
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
under the Money Laundering
Money laundering
Money laundering is the process of disguising illegal sources of money so that it looks like it came from legal sources. The methods by which money may be laundered are varied and can range in sophistication. Many regulatory and governmental authorities quote estimates each year for the amount...
Regulations 2003, commercial foreign exchange companies are treated as "Money Service Businesses" which are covered by regulations administered by HM Revenue & Customs.
UKForex Limited holds a certificate of registration for Money Laundering Regulation (MLR). Registration number: 12219180.