We were founded in Amsterdam, which is where our headquarters and largest trading office still is. In 2007, we opened the first overseas office in Singapore. This gave us access to the Asia-Pacific markets, both improving our hedging capabilities and giving us access to additional revenues. We further expanded into the American region by opening our New York office in 2009. In 2010, we established a presence in Cluj, Romania, where part of our internal software development team is located.
With trading offices in Europe, the US and Asia, we cover all time zones. Our global, around the clock market coverage brings us significant benefits in terms of economies of scale. It also allows stronger risk management and more efficient and effective hedging.