Barclays Capital has launched BARX PowerFill, an addition to the bank’s BARX for FX Trading platform, for the algorithmic trading of foreign exchange, specifically aimed at larger order types.
PowerFill technology is already in use at BarCap’s FX trading operation to determine trade execution styles while minimising hedging costs. BARX PowerFill now brings these same execution benefits directly to clients, the bank says.
Clients accessing BARX for FX Trading will now see a new screen layout incorporating a PowerFill bar. The bar shows them how quickly the market is absorbing their order, providing them with maximum transparency and control over market impact, Barcap says.
By observing the PowerFill bar as they trade, clients can react to the market by adjusting
trade size and frequency to meet their execution needs. Clients can execute a single trade
immediately in large size, or aim to reduce costs by breaking orders into smaller clips over time. Once complete, clients can aggregate individual trades into a single ticket for easy booking.
“E-commerce is central to our distribution strategy,” says Ivan Ritossa, head of foreign
exchange at Barclays Capital. “By providing clients with much valued transparency into the market, BARX PowerFill further demonstrates our commitment to optimising our clients’ FX trading experience.”
In addition to the PowerFill offering, Barclays Capital has also added a ‘latency monitor’ to BARX to indicate to clients the strength of their Internet connectivity. The latency monitor shows clients when their network traffic might potentially compromise trading speed, enabling them to investigate and resolve client-side network congestion issues.