Barclays Launches Algorithm BARX® Peg
March 07 2019 - 11:45AM
Business Wire
Barclays today announced the launch of BARX Peg, a new algorithm
on BARX FX. The algorithm, available within Gator™, allows clients
to minimize the amount of spread paid and also potentially minimize
market impact by accessing unique Barclays franchise liquidity
pools.
“BARX Peg represents an important enhancement to our BARX FX
Gator suite,” said Mauricio Sada-Paz, Global Head of eFICC Product
and Distribution. “The algorithm allows clients to access
Barclays franchise liquidity pools, which enable trades to be
filled entirely through the process of internalization.”
“This new algo is another step towards establishing BARX as a
leading FX platform” says Fabio Madar, Global Head of G10 FX
Trading and Distribution. “We have hired top talent and
allocated resources to enhance the platform, and there’s a lot more
to come for BARX.”
Key Client Benefits of BARX Peg
- Minimize the amount of spread paid and
also potentially reduce market impact.
- Access to the Barclays franchise
liquidity pools, which enable the trade to be filled entirely
through the process of internalization. As the algo relies
exclusively on Barclays franchise liquidity pools, certainty of
execution may be reduced.
- Five different Target Execution Rates
which provide exposure to unique Barclays franchise liquidity
pools, representing the various different channels and connections
through which Barclays’ principal liquidity may be accessed, namely
the BARX Single Dealer Platform (GUI), Multi Dealer Platforms
(MDPs) and API connections. The settings, which represent the
varying rate (speed) at which fills may occur, range from Fast,
which includes all 5 Barclays franchise liquidity pools, to Slow,
which only includes the GUI.
BARX FX is Barclays’ eFX trading platform which provides clients
with access to liquidity in over 50 currencies and 450 currency
pairs.
About Barclays
Barclays is a transatlantic consumer and wholesale bank offering
products and services across personal, corporate and investment
banking, credit cards and wealth management, with a strong presence
in our two home markets of the UK and the US.
With over 325 years of history and expertise in banking,
Barclays operates in over 40 countries and employs approximately
83,500 people. Barclays moves, lends, invests and protects money
for customers and clients worldwide.
For further information about Barclays, please visit our website
www.barclays.com
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