The algorithm, available within Gator™, allows clients to minimize the amount of spread paid and also potentially minimize market impact by accessing unique Barclays franchise liquidity pools.

“BARX Peg represents an important enhancement to our BARX FX Gator suite,” said Mauricio Sada-Paz, Global Head of eFICC Product and Distribution. “The algorithm allows clients to access Barclays franchise liquidity pools, which enable trades to be filled entirely through the process of internalization.”

“This new algo is another step towards establishing BARX as a leading FX platform” says Fabio Madar, Global Head of G10 FX Trading and Distribution. “We have hired top talent and allocated resources to enhance the platform, and there’s a lot more to come for BARX.”

Key Client Benefits of BARX Peg

Minimize the amount of spread paid and also potentially reduce market impact.
Access to the Barclays franchise liquidity pools, which enable the trade to be filled entirely through the process of internalization. As the algo relies exclusively on Barclays franchise liquidity pools, certainty of execution may be reduced.
Five different Target Execution Rates which provide exposure to unique Barclays franchise liquidity pools, representing the various different channels and connections through which Barclays’ principal liquidity may be accessed, namely the BARX Single Dealer Platform (GUI), Multi Dealer Platforms (MDPs) and API connections. The settings, which represent the varying rate (speed) at which fills may occur, range from Fast, which includes all 5 Barclays franchise liquidity pools, to Slow, which only includes the GUI.

BARX FX is Barclays’ eFX trading platform which provides clients with access to liquidity in over 50 currencies and 450 currency pairs.