The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.


All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.
FOREIGN EXCHANGE

Barclays looks for internal efficiencies

Later versions are likely to include the ability to enter their own time-delayed orders, minus the potential of having their order front run – whoops! I mean, risk-managed – by the bank

I traipsed off down to Canary Wharf this week to see a demo of the latest bells and whistles that have been added to Barx, Barclays’ FX platform. Ostensibly, the addition of ‘PowerFill Orders’ gives Barclays a wider range of algorithmic capabilities. I say ostensibly, because as I’ve written before, I’m not entirely sure that the demand for algos is as great as we’ve been led to believe.

They clearly do have a use – whenever I’ve been at conferences where the buy side has been asked whether or not they will use algos, they invariably say they will. So maybe Barclays is being exceptionally clever and delivering the tools for tomorrow today.

That said, the lack of availability of ‘PowerFill’ down an API might limit their use.

What Barclays is doing is though is trying to increase its liquidity pool on Barx. It now allows clients to put in their own bids and offers, which are not displayed to other users. Barclays admits it is trying to build a community of price takers and makers, which will increase the efficiency of its internal matching on the fully automated Barx. I wrote about the importance of internalisation in May’s Euromoney.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree