News Releases

Barclays Capital, the investment banking division of Barclays PLC, announces the launch of the Barclays Capital Global Target Exceed Index.

Global Target Exceed Index is the latest product to launch from the Exceed platform; it aims to extract alpha from term premium in the short end of the yield curves in a fully transparent and liquid way by trading libor futures contracts. It also allows investors to benefit from diversification across four yield curves (EUR, USD, GBP and JPY).

Designed to perform in both rate-hiking and rate-cutting phases of the economic cycle , EUR Exceed and USD Exceed launched in August 2007 and focused on capturing alpha from the EUR and USD yield curves respectively. Atlantic Exceed launched in February 2008 and focused on extracting alpha form both the EUR and USD yield curves. Global Target Exceed extends the yield curves traded to include GBP and JPY, further increasing diversification benefits, and refines the strategy’s behaviour in low and high-volatility environments.

“Global Target Exceed pioneers a new generation in trading strategies. Excess returns can now be captured across a wide range of rates environments, whilst providing investors with the liquidity and transparency they require,” commented Aurelia Lamorre–Cargill, Head of Rates Structuring at Barclays Capital.

Jose Mazoy, Index Products at Barclays Capital, added, “One of our main objectives at Barclays Capital is to extend the boundaries beyond benchmark indices. The Global Target Exceed Index adds to Barclays Capital’s already broad range of index products spanning beta, enhanced beta and alpha strategies.”

The Global Exceed strategy can be accessed by institutional investors, pensions funds, asset managers, private banks, insurance companies and other fund managers via a wide range of formats, including excess return swaps, cash-plus floaters, funds, OTC options, principal-protected notes (including CPPI), and liability-side swaps allowing for structured funding cost reduction.

Barclays Capital will provide data, analytics and support for the index via web-based and other e-commerce protocols. The indices are available on Barclays Capital’s index products website www.barcap.com/indices and a subset of the index family via Bloomberg BCIX <go>.

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For further information, please contact:

Catherine Malloy, Barclays Capital Communications
+44 (0)20 7773 8939 or catherine.malloy@barcap.com

About Barclays Capital
Barclays Capital is the investment banking division of Barclays Bank PLC. With a distinctive business model, Barclays Capital provides large corporate, government and institutional clients with a comprehensive set of solutions for their strategic advisory, financing and risk management needs. Barclays Capital has offices around the world, employs 20,000 people and has the global reach, advisory services and distribution power to meet the needs of issuers and investors worldwide.

For further information about Barclays Capital, please visit our website www.barclayscapital.com.