Barclays Capital has decided to add algorithmic trading functionality to the front end of its Barx foreign exchange trading platform. The bank made its PowerFill service available to clients on its graphical user interface (GUI) on September 18.
Having crossed over from other asset classes, algo trading has been a hot topic in the FX market for about 18 months. The market seems to have an ambiguous approach to the topic, with algos being blamed for such problems as latency arbitrage and prices gapping, but also lauded for the extra liquidity they have brought. Barclays’ decision to provide algo functionality on its GUI looks designed to expand the use of algos, even if it does seem slightly outdated...
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