Barclays Capital has introduced two changes to its eFX trading platform to allow for more accurate and dynamic pricing and efficient execution for its clients.
The first feature adds an additional decimal place to the prices shown to clients, creating new increments of 0.1 of a pip. The new pricing will be available initially on the bank’s proprietary platform, Barclays Capital Trader, and via its FIX API connectivity.
Barclays Capital will later release the functionality on participating multi-dealer platforms and ECN’s. Barclays Capital deployed the new precision pricing enhancement to clients over two weeks from March 21, 2005. The currency pairs included in the enhancement are EUR/USD, GBP/USD, EUR/GBP, USD/JPY, EUR/JPY, USD/CHF and EUR/CHF.
“Precision pricing is a real plus for our clients, who look to Barclays Capital to provide them with the most competitive pricing available in the eFX market,” said Ivan Ritossa, managing director and global head of FX at Barclays.
In addition to the pricing, Barclays has added configurable, ‘single click’ dealing for spot and forwards to its proprietary platform. The single click dealing tool allows clients to pre-enter a default trading amount that can be transacted with a single mouse click. The enhancement is now available across all currencies on Barclays Capital Trader.
Other recently added features include a dynamic order book, a mark to market position manager, and an editable scratch pad.