Thursday, September 10, 2009

Barclays Capital launches enhanced FX Algorithmic Trading
Barclays Capital, the investment banking division of Barclays Bank PLC, has announced the launch of PowerFill+, a suite of online foreign exchange tools providing clients with order management and access to deeper liquidity. This new functionality on BARX, the firm's electronic trading platform, is free to use, providing 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, which is intended to enable BARX to provide all clients with tighter spreads and deeper liquidity.

"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."