Barclays adds FX products to electronic trading platform BARX

As well as FX trading, Barclays has rolled out its new implementation shortfall algorithm known as Gator Adapt to manage slippage.

UK investment bank Barclays has expanded its cross-asset electronic trading platform, BARX with FX trading services and products. 

Traders can now access Barclays’ principal FX liquidity and liquidity from external providers via the BARX book on the platform alongside its trading solutions for equities, fixed income, and futures.

Alongside the launch of the FX suite, the bank said clients of the platform can now also access its new implementation shortfall algorithm, Gator Adapt. 

The algo allows for the management of the trade-off between arrival price slippage and execution price risk. Traders are also able to choose an execution style to minimise market impact for a given level of risk.

Barclays has also launched an improved low latency solution as part of the platform, BARX Direct, which it said uses pricing models, predictive analytics, and an optimised co-location strategy.

“We continue to execute our ambitious expansion efforts in electronic trading to enhance our global offering and bring our clients world-class efficiencies,” said Naseer Al-Khudairi, global head of markets electronic trading and digital strategy at Barclays. 

“These new BARX FX developments are the latest in a stream of enhancements to our BARX platform and we look forward to harnessing the momentum in our business as we continue to invest across all of our e-trading solutions.”

Barclays has been continuously updating its BARX platform as the market’s appetite for electronic trading across asset classes continues to increase. 

Most recently, it launched a single dealer platform, BARX Book for Equities, in partnership with US exchange Nasdaq in December to give institutional clients access to its principal liquidity for US stocks.