Barclays announced that it will deploy its latest FX trading and pricing engine BARX in Singapore, under the Monetary Authority of Singapore’s (MAS) FX Trading Hub strategy. This will include the rollout of the latest BARX Direct technology which combines next-generation pricing algorithms with ultra-low latency co-location connectivity. BARX is Barclays’ cross-asset electronic trading platform for equities, fixed income, futures and FX.
With the BARX infrastructure being based in Singapore, local and regional market participants can use existing BARX functionality, along with increased price discovery, lower latency and improved quality of execution. Scheduled to be launched in mid-2021, the new FX trading and pricing engine will be Barclays’ fourth electronic FX trading hub globally, adding to its existing platforms in New York, London and Tokyo.
Cameron Booth, head of eFICC Distribution Asia at Barclays, said in a statement: “This move delivers a substantial enhancement to our product delivery here in Singapore and across the APAC region. Significantly improved latency, and our next generation pricing, execution and algorithms will drive growth and strengthen our broad client franchise in Asia.”