Barclays Adds FX NDF Algorithms on BARX Electronic Trading Platform


Barclays, a universal bank in the United Kingdom, has launched a new FX NDF (Non-Deliverable Forwards) algorithm for its electronic trading platform BARX.

18 August 2020 | AtoZ Markets – Barclays is a UK investment banking and financial services company. Barclays is listed on the London Stock Exchange and the New York Stock Exchange. It has 4750 offices in approximately 55 countries, and 1600 are in the United Kingdom.

Barclays introduced BARX as a cross-asset electronic trading platform last year. BARX centralizes all signals, models, and decisions to provide a more efficient and productive trading experience. Moreover, the platform offers stock, bonds, futures, and FX trading services.

Barclays Introduces NDF Algorithms on 7 Asian Currency Pairs

Barclays has expanded its FX trading offering by announcing the NDF algorithm’s launch on BARX’s electronic trading platform. However, the new algorithm currently supports 1-month NDF for 7 Asian currency pairs: USD/ CNY, USD/IDR, USD/INR, USD/KRW, USD/MYR, USD/PHP, USD/TWD.

Barclays explained that this initiative is the response to the growing demand from Asian customers to trade NDF like deliverable currencies. The bank also said NDF interbank market had created an ideal environment for launching NDF algorithms and improving liquidity. 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. We please 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.”

The trading volume survey conducted by the Bank of England in 2020 has shown a decline in average daily trading volume for all major currency pairs since the last survey in 2019. FX options and NDF also fell compared to the 2019 survey.

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