News Releases
Barclays Capital launches PowerFill Orders
LONDON – Barclays Capital, the investment banking division of Barclays Bank PLC, today announced the launch of PowerFill Orders, which gives clients a new range of FX functionality on BARX, its award winning ecommerce platform. The combination of features on PowerFill Orders is not available in any other trading environment in the world and represents a superior alternative for clients compared with multi-dealer platforms.
PowerFill Orders builds on the algorithmic capability made available to clients through PowerFill. The new tool enables clients to work orders at or within the market, offering the potential to earn spread, and introduces PowerFill Price Improver (PPI) technology, which regularly fills orders at a better rate than the client’s order level.
The new technology also enables clients to choose whether to execute their trades passively or aggressively, using algorithms to break down larger tickets conveniently into smaller clips, or selecting execution via VWAP or TWAP. Advanced ordering of this type has conventionally been regarded as being highly complex, but PowerFill Orders simplifies the process, restoring control to the client.
Client confidentiality is imperative: no-one can view the client’s order book without them being informed, whist the client enjoys complete transparency, their order being displayed in real time, with the current average and amount filled visible.
Not only do users benefit from the potential to earn spread, PowerFill Orders also enables them to save on post-trade costs through the aggregation of individual trades into a single ticket. Furthermore, BARX FX is free to use, with no brokerage costs.
Commenting on the launch, Ivan Ritossa, Head of Foreign Exchange at Barclays Capital, said:
“The launch of PowerFill Orders is a significant market development, as no other FX trading platform in the world offers the ability to work bids and offers, including multi-dealer electronic communication networks (ECNs).
“Barclays Capital has a strong record of innovation and leadership in ecommerce, and PowerFill Orders represents the latest manifestation of a strategy that puts our clients at the heart of everything we do. This tool gives them genuine choice and control, and allows them to take full advantage of the tremendous pool of liquidity that BARX provides.”
Ends
For further information, please contact:
Barclays Capital Communications
Will Bowen + 44 20 7773 3250 will.bowen@barclayscapital.com
Kristin Friel +1 212 412 7521 kristin.friel@barclayscapital.com
Paul Scanlon +852 2903 2305 paul.scanlon@barclayscapital.com
Notes to editors:
About Algorithmic Trading
Algorithmic trading refers to the use of quantitative models to execute trades automatically according to a pre-defined set of parameters. Specifically, algorithms determine the timing, size, and destination of constituent trades.
About BARX
BARX is Barclays Capital's award-winning multi-asset class ecommerce offering. BARX provides electronic execution and other pre-trade and post-trade services across fixed income, foreign exchange, futures, commodities, equities, money markets, and structured products. For more information about BARX and Barclays Capital, visit www.barx.com. BARX: The Trader’s Best Friend.
Usage of BARX is subject to terms and conditions.
About Barclays Capital
Barclays Capital is the investment banking division of Barclays Bank PLC which has an AA long-term credit rating and a balance sheet of over £996 billion. With a distinctive business model, Barclays Capital provides large corporate, government and institutional clients with solutions to their financing and risk management needs. Barclays Capital has offices in 26 countries, employs over 13,200 people and has the global reach 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.
Barclays Capital - the investment banking division of Barclays Bank PLC. Registered in
