FX NOTEBOOK: Barclays Provides Clients with Gator Aid

Barclays offers execution tool to simplify workflows. TraderTools adds order management to hosted services. Gatelab goes live at Renaissance Capital, for cross-asset margining of stocks and futures, and FX positions.

Barclays: The British investment bank has launched Barx Gator, a new execution tool for foreign exchange clients, which brings together together external market liquidity and combines them with Barx Powerfill orders and Barclays own liquidity. Built for Barclays spot traders, this execution tool, simplifies complex workflows by converting all fills into one spot ticket in one currency pair.

Barx Gator works alongside the existing Barx FX offering, giving clients the choice of when to pass execution risk onto Barclays and when to take more themselves. Clients can then manage post-trade workflows to combine, split and roll-out completed orders.

There is also complete anonymity for the client as counterparties on external markets only see the Barclays name. Barclays manages all the technology aspects for clients, such as the maintenance of multiple connections to multiple venues, without passing on fixed costs. An all-inclusive service fee is added onto the aggregated price of each executed order, and is transparently displayed to the user.

TraderTools: The provider of electronic tools for currency trading said it has added order management functions to its LightFX pricing and aggregation service.

This the first time order management has been offered as a hosted service.The aim is to allow regional banks without 24-hour trading desks to manage resting orders overnight.

Liquidity management technology provider TraderTools has added order management functionality to its hosted foreign exchange pricing and aggregation service, LightFX, which was launched in 2012 and aims to offer price improvement and reduced operational cost to end users.

Banks can set up trades so that they will be automatically executed once certain pre-set conditions are met.

LightFX draws liquidity from 21 providers, including banks and electronic communication networks.

Gatelab: The multi-asset electronic trading systems supplier said three of its products have gone live at Renaissance Capital, a Russian investment banks. These include:

* MICEX SELT: HFTS pre-trade Risk Gateways for FX

* FORTS: HFTS pre-trade Risk Gateways for Futures

* Post-TradeCross Asset Margining Module for Equities, Futures and FX

These products complete Renaissance Capital’s full coverage of all Russian liquidity and LSE International Order Book (IOB) stocks through one consolidated ultra-low-latency platform, allowing the cross-asset margining of stocks and futures, and FX positions, in one account.

The London Stock Exchange acquired a majority stake in Gatelab earlier this month.