Chronicle Journal: Finance

Barclays Launches NDF Algorithms 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.

Notes to Editors:

  • Barclays Markets business is consistently delivering. At H120, announced 29th July 2020:
    • Markets income of £4,564m (H119: £2,806m) was the best ever first half of the year on a comparable basis*
    • Barclays FICC income increased 83% (vs H1 2019) driven by strong performances in macro and credit
    • Equities income increased 26%

      * Period covering Q114 – Q220. Pre 2014 financials were not restated following re-segmentation in Q116

About Barclays:

Barclays is a British universal bank. We are diversified by business, by different types of customer and client, and geography. Our businesses include consumer banking and payments operations around the world, as well as a top-tier, full service, global corporate and investment bank, all of which are supported by our service company which provides technology, operations and functional services across the Group. Barclays offers investment banking products and services in the US through Barclays Capital Inc. For further information about Barclays, please visit our website home.barclays.

Contacts:

Ellie Austin
+44 (0) 207 773 6461
ellie.austin@barclays.com

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