Barclays introduces NDF algorithms on BARX electronic trading platform

Maria Nikolova

The NDF algorithms mark an addition to the BARX Gator algorithm suite for FX trading.

Barclays today announced the launch of new non-deliverable forwards (NDF) algorithms on the BARX electronic trading platform. The NDF algorithms are the latest addition to the BARX Gator algorithm suite for FX trading.

BARX Gator is Barclays electronic order execution channel which combines liquidity available on external venues with BARX principal liquidity. The channel now supports 1-month NDFs for multiple algorithms in seven Asian currency pairs; USD/CNY, USD/IDR, USD/INR, USD/KRW, USD/MYR, USD/PHP, and USD/TWD.

This new global offering is a direct result of strong client demand, particularly in Asia, to trade NDFs in the same way as deliverable currencies. The electronification of the NDF inter-bank market has created an ideal environment to launch NDF algorithms and improve liquidity.

BARX is Barclays cross-asset electronic trading platform, which enables clients to optimise execution performance by accessing deep pools of liquidity through Barclays innovative and evolving trading technology solutions. Clients can trade with BARX across equities, fixed income, futures and FX.

Naseer Al-Khudairi, Global Head of Markets Electronic Trading and Digital Strategy at Barclays said:

“The launch of our NDF algorithms puts Barclays at the forefront of a significant evolution in FX algos and we’re pleased to offer this innovative product to our clients. This is an exciting addition to the BARX platform as we continue to make significant investments to our electronic offering to provide clients with the solutions they need.”

Read this next

Executive Moves

Wombat appoints ex-abrdn Richard Charnock as UK platform turns to Europe

Launched in 2019, Wombat provides a dedicated mobile investing platform – available on both iOS and Android – offering users both range and choice.

Institutional FX

Broadridge integrates Point Focal’s pre and post-market reports

“Point Focal provides a unique lens on the market which will help add alpha to the trading process and these new insights will rapidly improve performance while mitigating execution risk and simplify trading.”

Technology

XCritical integrates with Brokeree Solutions, allowing its clients to launch copy trading 

The forex software provider – XCritical, has integrated Social Trading by Brokeree Solutions into their CRM system.

Industry News

HKEX partners with Saudi exchange for cross listings, ESG, Fintech

“The Kingdom of Saudi Arabia, and the broader Middle Eastern region, are one of the world’s most dynamic and exciting economic and innovation hubs and also home to some of the fastest growing investor groups in the world. Hong Kong and HKEX’s markets offer significant opportunities for international investors and corporates, including unrivalled connectivity to the Mainland Chinese markets through our unique Connect programmes. This agreement signals the beginning of even greater collaboration between our companies and our home markets, and we look forward to exploring many future areas of cooperation.”

Executive Moves

CMC Markets Connect relocates APAC team led by Peter Foster to Singapore

“Singapore is a vibrant city and is now undoubtedly seen as Asia’s leading financial hub. The decision to bolster the CMC Markets Connect team here will help us cement the company’s position as a leading provider of multi asset liquidity and comprehensive trading solutions across the region.”

Retail FX

Italian watchdog red flags Olympus Brokers, UnicoFX and Allfina Group

Italy’s Commissione Nazionale per le Società e la Borsa (CONSOB) has shut down new websites in an ongoing clampdown against firms it accuses of illegally promoting investment products in the country.

Retail FX

XTB revenues hits zł1.45 billion in 2022, Q4 earnings disappoint

Poland-based Forex and CFDs broker, XTB has reported its final results for Q4 of 2022 and the full fiscal year ending on December 31, 2022, showing one of its most successful corporate years.

Executive Moves

Lirunex Limited recruits Waleed Salah as head of MENA sales

Maldives-based brokerage firm Lirunex Limited has secured the services of Waleed Salah, who joined the company in the role of its head of sales for the MENA region.

Executive Moves

Trading 212 parts ways with co-founder Borislav Nedialkov

Trading 212 has a void to fill at its FCA-regulated business in London, following the departure of two key players, Raj Somal and Borislav Nedialkov.

<