Barclays Launches NDF Algos

Source: Profit & Loss Event 2020-08-21

Barclays has become the latest bank to extend its FX algo execution product site to NDFs, adding one-month NDFs across multiple algorithms to Gator, its liquidity aggregation and algo platform.

The algos are available in seven Asian currency pairs, USDCNY, USDIDR, USDINR, USDKRW, USDMYR, USDPHP, USDTWD and the bank says the launch is in response to customer demand for the service. NDF algo use has been growing since Goldman Sachs introduced a hybrid algo in 2018, followed by offerings at other banks including BNP Paribas, Credit Suisse and JP Morgan.

“The launch of our NDF algorithms puts Barclays at the forefront of a significant evolution in FX algos and we’re pleased to offer this innovative product to our clients,” says Naseer Al-Khudairi, global head of markets electronic trading and digital strategy at Barclays. “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.”

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Goldman Sachs

Barclays Launches NDF Algos

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