Barclays Capital
The global program trading team at Barclays Capital provides 24/6 worldwide sales coverage in MSCI developed and emerging markets, utilising a global order management system and analytics platform. Dedicated program trading teams are based in New York, London, Tokyo and Hong Kong. Hong Kong covers the Asia region including Japan for offshore clients, and program trading desks in India, Taiwan and Tokyo have risk/agency trading capability across the region.
Desk-based index strategists provide market intelligence on index and program trading, and bespoke feedback on specific index trading queries from clients. In addition, Barclays Capital offers an advanced analytics suite, Portfolio WebBench provides pre- and post-trade analysis, as well as real-time trade monitoring, together with dedicated exchange-traded fund (ETF) coverage.
Liquidity access
The program trading desk in Hong Kong offers sales-trading coverage and access to the following markets: Australia, Hong Kong, India, Indonesia, Japan, Korea, New Zealand, Malaysia, Philippines, Singapore, Taiwan and Thailand. In addition to program trading flow, the desk sits in the middle of multiple sources of liquidity including ETF trading, index and sector swaps trading and equity derivatives delta hedging.
Client coverage
Clients include active, long-only investment managers, quantitative investment managers, pension funds, passive/index-related asset managers and hedge funds. Kinds of trades include global rebalances, cash flows, derivative-linked equity trades and theme-based transactions
Pre- and post-trade analytics
Portfolio WebBench is a comprehensive analytics suite that provides insight into every stage of the investment process: portfolio construction, pre-trade analysis, real-time monitoring and post-trade analysis. Tools include a portfolio construction optimiser, market impact cost forecasting, risk and volatility analysis, a real-time heatmap of slippage, volume profiles of individual stock and transaction cost analysis.
Future plans
Barclays Capital plans ongoing enhancements to its order management system and updates to FIX connectivity.