Integral Development Corporation, the leading independent electronic foreign exchange (eFX) trading technology provider, announced today the extension of its 'White Label' partnership with Barclays Capital, the investment banking division of Barclays Bank PLC.
"We are delighted that Barclays Capital chose FX Power Trader technology to launch its widely anticipated move into the rapidly growing eFX retail sector," said Harpal Sandhu, Integral's CEO.
"By combining the leading edge functionality of FX Power Trader, Integral's new retail managed service offering, with the market leading liquidity of Barclays Capital, the bank and its broker partners will enjoy the best of all worlds, with no upfront capital investment," he added.
The first partner institution to take advantage of the new offering is Barclays Wealth with its FX on BARX platform. The service was launched earlier this month under the Barclays Stockbrokers brand to its private client base.
The platform was immediately recognized with the Profit and Loss 2008 "Best White Label" award and cited as setting a "new high water mark" for the retail space.
Integral and Barclays Capital are today showcasing FX on BARX at the 47th ACI- Financial Markets Congress in Vienna by giving the international banking community its first ‘hands on' demonstration of the trading solution.
More than 700 bankers and specialists in foreign exchange are attending the congress to debate issues and opportunities presented by the rapid growth in FX trading and the new wave of retail participation in the $3.2 trillion-a-day global FX market.
‘White Label' eFX technology lets major banks like Barclays tailor applications for its own business units, correspondent banks, brokers and now retail clients, to manage FX trading efficiently without significant new investment in resources. The Integral technology is delivered as a managed service that lets users launch trading services quickly and efficiently.