Barclays Launches Single-Dealer Platform With Nasdaq

Pensions Look Beyond Equities and Bonds

Barclays today announced the launch of BARX Book for Equities, a new single-dealer platform developed in partnership with Nasdaq. Hosted by Nasdaq on its leading market technology infrastructure, BARX Book for Equities provides institutional clients access to the bank’s unique, principal liquidity for U.S.-listed single names and exchange-traded funds, and is Barclays’ most recent innovation for equities within BARX, the firm’s multi-asset electronic trading platform.

“We are pleased to announce BARX Book for Equities as the latest offering in our electronic trading platform,” says Nas Al-Khudairi, Global Head of Markets Electronic Trading and Digital Strategy at Barclays. “This is a natural extension to our BARX suite and underscores our commitment to providing clients with a wide range of liquidity solutions that seamlessly integrate with their trading process.”

BARX Book for Equities represents a new chapter in Barclays’ client liquidity strategy, as it allows more ways for clients to access the firm’s principal liquidity during regular market hours. Clients will be able to access BARX Book through a number of new order types and through the new BARX Book algo strategy.

As part of the relationship, Nasdaq is fully hosting the Barclays platform on its Nasdaq Execution Platform, including managing system operations, as well as portions of risk controls, venue surveillance, trade reporting and clearing facilitation. The technology enables exceptional flexibility and provides Barclays the ability to integrate new applications and functionalities as the company evolves and expands the BARX Book for Equities platform. Nasdaq’s market technology powers more than 300 of the world’s market infrastructure organizations and market participants.

“The new platform is a testament to Barclays’ integration of electronic solutions into our cash equities franchise, as we work to enhance and streamline best-in-class equities services for our clients,” says Todd Sandoz, Barclays’ Co-Head of Global Equities. “Our partnership with Nasdaq to host the platform further allows us to focus on offering the most advanced liquidity solutions, which are backed by the scale and depth of Nasdaq’s growing Execution Platform infrastructure.”

“Barclays has been at the forefront in advancing growth and innovation in the finance industry,” says Valerie Bannert-Thurner, Senior Vice President and Head of Sell-Side and Buy-Side Solutions, Market Technology at Nasdaq. “Our extensive experience in regulated markets, coupled with delivering high-performing, scalable technology infrastructure, will provide Barclays with unique functionalities so they can focus on building and evolving BARX Book for Equities. We look forward to supporting Barclays as they continue to innovate their single dealer platform.”

Key Points for Clients:

The platform offers clients transparency through indications of interest and its own unique market identifier code.
Clients will be able to choose if they prefer to interact with BARX Book liquidity on an anonymous or disclosed basis.
BARX Book will offer support in the near-future for Conditional Orders in addition to a Closing Cross.

Source: Nasdaq

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