Barclays Launches NDF Algorithms on BARX
August 18 2020 - 3:00AM
Business Wire
Barclays today announced the launch of new non-deliverable
forwards (NDF) algorithms on the BARX electronic trading platform.
The NDF algorithms are the latest addition to the BARX GatorTM
algorithm suite for FX trading.
BARX GatorTM is Barclays electronic order execution channel
which combines liquidity available on external venues with BARX
principal liquidity. The channel now supports 1-month NDFs for
multiple algorithms in seven Asian currency pairs; USDCNY, USDIDR,
USDINR, USDKRW, USDMYR, USDPHP, USDTWD.
This new global offering is a direct result of strong client
demand, particularly in Asia, to trade NDFs in the same way as
deliverable currencies. The electronification of the NDF inter-bank
market has created an ideal environment to launch NDF algorithms
and improve liquidity.
Naseer Al-Khudairi, Global Head of Markets Electronic Trading
and Digital Strategy at Barclays said:
“The launch of our NDF algorithms puts Barclays at the forefront
of a significant evolution in FX algos and we’re pleased to offer
this innovative product to our clients. This is an exciting
addition to the BARX platform as we continue to make significant
investments to our electronic offering to provide clients with the
solutions they need.”
BARX is Barclays cross-asset electronic trading platform, which
enables clients to optimise execution performance by accessing deep
pools of liquidity through Barclays innovative and evolving trading
technology solutions. Clients can trade with BARX across equities,
fixed income, futures and FX.
Notes to Editors:
- Barclays Markets business is consistently delivering. At H120,
announced 29th July 2020:
- Markets income of £4,564m (H119: £2,806m) was the best ever
first half of the year on a comparable basis*
- Barclays FICC income increased 83% (vs H1 2019) driven by
strong performances in macro and credit
- Equities income increased 26% * Period covering Q114 – Q220.
Pre 2014 financials were not restated following re-segmentation in
Q116
About Barclays:
Barclays is a British universal bank. We are diversified by
business, by different types of customer and client, and geography.
Our businesses include consumer banking and payments operations
around the world, as well as a top-tier, full service, global
corporate and investment bank, all of which are supported by our
service company which provides technology, operations and
functional services across the Group. Barclays offers investment
banking products and services in the US through Barclays Capital
Inc. For further information about Barclays, please visit our
website home.barclays.
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Ellie Austin +44 (0) 207 773 6461 ellie.austin@barclays.com
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