Investment bank Barclays Capital has unveiled an upgrade to the suite of tools available to clients for trading FX on its BARX multi-asset electronic trading platform.
PowerFill+ offers clients a range of online tools to support algorithmic trading of foreign exchange on BARX.
Barclays said the new tools, which do not incur brokerage fees, would supply clients with superior execution quality and access to deeper liquidity.
The new functionality leverages liquidity from 10,000 BARX users to provide bid and offer matches on an anonymous basis, thereby reducing spreads. Barclays Capital acts as counterparty to all trades executed on BARX.
PowerFill+ will enable clients to access a broader range of order types from an order entry screen with the ability to delay orders to a specific time. Available order types include: take profit, stop loss, immediate, VWAP, TWA and call level.
Other functionality improvements include the ability to trade directly from intraday graphs and monitor or edit unfilled orders. The PowerFill+ order management tool automatically uploads or downloads order books to give users visibility and control of orders based on their proximity to market.
BARX provides access to liquidity in equities, fixed income, foreign exchange, derivatives, commodities and structured products on both proprietary platforms and electronic communication networks.