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

PowerFill+: Barclays throws down the eComm gauntlet

It was off to Barclays Capital on Wednesday to see the unveiling of the new improved version of its Barx trading platform. The system, labelled PowerFill+, has been out in beta release with selected clients for a few months. Word has already filtered back about its impressive functionality, so I was looking forward to seeing for myself if it was as good as people have been telling me.


The previous version of Barx, released back in May 2007, allowed clients to post their own bids and offers into the system. At the time, this was a radical move, although the orders were not displayed to other clients. Barclays admitted that as well as allowing its customers to potentially reduce their trading costs by saving the spread, it would also serve to build up its own internal liquidity pool.


This would seem to have worked and according to Nick Howard, Barclays’ head of FX and emerging markets distribution, the bank has seen a compounded annual growth rate of 88% in its electronic volumes since 2003. The result is that now around 80% of its spot business is transacted on Barx, and it manages to internalise a huge proportion of this flow.



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