Barclays Launches NDF Algos On BARX08.18.2020
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.
Today we’re announcing the launch of new non-deliverable forwards (NDF) algorithms #BARX, our electronic trading platform. These algos are the latest addition to the BARX Gator suite for FX trading. Read the press release
— Barclays Investment Bank (@BarclaysIB) August 18, 2020
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.
Instinet Fox River Quant Solution will initially be rolled out in the Americas.
Instinet's Anushree Laturkar says investing in research and analysis is key to improving client outcomes.
The new platform launched via a partnership with BestEx Research.
It is the first liquidity-seeking algorithm on Atlas, the equities trading platform introduced in 2019.
Strategy Studio allows brokers to create their own execution platforms.