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

Digital Assets

Sam Bankman-Fried might see his 25-year sentence halved

Sam Bankman-Fried, the founder of the failed cryptocurrency exchange FTX, was sentenced to 25 years in federal prison by a Manhattan court on Thursday. This comes after he was convicted of defrauding customers and investors, with Judge Lewis Kaplan highlighting the potential future risks posed by Bankman-Fried.

Technical Analysis

EURJPY Technical Analysis Report 28 March, 2024

EURJPY currency pair under the bearish pressure after the pair reversed down from the major resistance level 164.25, which also stopped the sharp weekly uptrend at the end of last year,

Digital Assets

BlockDAG’s Presale Hits $9.9M, MultiversX & MINA Price Predictions Show Green

Read about BlockDAG’s promising $10 prediction and insights on MultiversX Price Prediction as MINA’s potential unfolds.

Digital Assets

Rockstar Co-Founder and All-star Line Up Join Advisory Board to Take Metacade into Post Beta Orbit

Metacade, the revolutionary Web3 gaming platform, prepares to streak out of beta with a slew of ground-breaking initiatives that will redefine the way blockchain games are developed.

Retail FX

Prop firm The Funded Trader shuts down, claims relaunch in April

Prop trading firm The Funded Trader has ceased all operations, with claims for a relaunch in the near future.

Digital Assets

Ethereum-Based Tokenized Real Estate Platform USP Launches On Republic

How This Californian Startup Is Revolutionizing Real Estate Investment through Ethereum-Based Tokenization.

Digital Assets

Sui Spikes in Weekly DEX Volume, Joins Top 10 of All Blockchains

March DEX volume on Sui stands at over $2.88B – up more than 49% from February – with decentralized exchange Cetus and wholesale liquidity layer DeepBook leading.

Digital Assets

Prisma Finance suffers $10 million crypto exploit, attack ongoing

Liquid staking protocol Prisma Finance fell victim to a security exploit on March 28, resulting in nearly $10 million in Prisma mkUSD and wrapped stETH being stolen by hackers.

Digital Assets

Masa and LayerZero: Bridging Blockchains for Data Sovereignty

Masa Network is poised to revolutionize the personal data landscape with its upcoming launch as a cross-chain platform, making it accessible on a variety of blockchains right from the start.

<