08.18.2020

Barclays Launches NDF Algos On BARX

08.18.2020
Barclays Launches NDF Algos On BARX

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.

Source: Barclays

Related articles

  1. FCMs Promote Algorithmic Trading

    SmartDark features prioritized routing to venues with larger executions sizes and better price stability.

  2. The two firms have published research on using quantum computers in pricing algorithms.

  3. New Collateral Transformers To Emerge

    The decision to reschedule the launch of the ECMS was due to the need for additional preparation.

  4. FCMs Promote Algorithmic Trading

    Trajectory crossing exists in the US but Cboe BIDS VWAP-X is the first service of this kind in Europe.

  5. FCMs Promote Algorithmic Trading

    Benchmark crossing in EMEA should improve the ability for algos to find high quality counterpart liquidity.