Barclays Capital the announced that it has added cross-currency basis swaps to its investment banking division (BARX) through Bloomberg, making it the first electronic trading platform to offer the service.
Users are now able to instantly click-and-trade EUR-USD, GBP-USD and EUR-GBP cross-currency basis swaps for 1-30yr benchmark maturities throughout European market hours.
“BARX has been an increasingly important part of our overall swaps offering in recent years,” said Nick Hallet, director and head of cross currency swap trading. He predicts the product will add value, transparency and simplification to the trading process for Barclays clients.