Barclays Capital launches enhanced FX Algorithmic Trading

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Barclays Capital Launches Enhanced FX Algorithmic Trading

Barclays Capital, the investment banking division of Barclays Bank PLC, today announced the launch of PowerFill+, a suite of online foreign exchange tools providing clients with revolutionary order management and access to deeper liquidity.  This new functionality on BARX, the firm’s award winning electronic trading platform, is free to use, giving clients superior execution capability without brokerage fees.

The main feature of PowerFill+ is that it allows clients to anonymously work bids and offers. The best bid/offer forms part of the price that users see, enabling BARX to provide all clients with tighter spreads and deeper liquidity.

PowerFill+ is built on the algorithmic capabilities made available to clients through PowerFill Orders, unveiled on BARX FX in 2007. This new and improved tool enables clients to access a broader range of order types from an easy to use order entry screen with the ability to delay orders to a specific time. Order types available include: Take Profit, Stop Loss OCO, Immediate, VWAP TWAP and Call Level.

“Traditionally, platforms offering this level of order functionality charge their clients fees, but PowerFill+ is brokerage free,” said Tim Cartledge, Head of BARX FX Trading at Barclays Capital. “Zero brokerage plus Barclays Capital’s certainty and depth of liquidity, coupled with the extra liquidity resulting from our clients’ own orders, means we are providing clients with an optimal trading environment.”

“PowerFill+ demonstrates Barclays Capital’s commitment to providing clients with outstanding service and reinforces our position as a leader in market innovation,” said Nick Howard, Head of Foreign Exchange and Emerging Markets Distribution at Barclays Capital.  “This is a great addition to our BARX platform which is recognised globally for its reliability and stability with a proven track record during times of market volatility.”

Other highlights include:
·    Ability to trade directly from an intraday graph and monitor or edit any unfilled orders
·    Liquidity ladder shows depth of book – provides key market insight
·    Cutting-edge order management tool automatically uploads or downloads orderbooks, giving full visibility and control of all orders based on their proximity to market. In addition, a real-time fill progress of each order can be seen.

About BARX

BARX, Barclays Capital’s award-winning multi-asset class online trading platform, combines exceptional liquidity with innovative trading tools and dedicated service. As a seamless ecommerce solution, BARX sets the standard for execution efficiency and service. BARX offers access to liquidity through innovative proprietary platforms and via several ECNs in the following asset classes: Commodities, Fixed Income, Emerging Markets, Money Markets, Foreign Exchange, Structured Products, Equities and Futures & Options. BARX also provides FIX and DMA connectivity and STP. For more information, please visit www.barx.com.

About Barclays Capital
Barclays Capital is the investment banking division of Barclays Bank PLC.  With a distinctive business model, Barclays Capital provides large corporate, government and institutional clients with a full spectrum of solutions to their strategic advisory, financing and risk management needs.  Barclays Capital has offices around the world, employs 20,000 people and has the global reach, advisory services and distribution power to meet the needs of issuers and investors worldwide.
For further information about Barclays Capital, please visit our website www.barclayscapital.com.

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