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Barclays Capital, the investment banking division of Barclays Bank PLC, launched PowerFill+. The system is a suite of online foreign exchange tools to provide order management and access to more liquidity. The new functionality is accessed t4hrough BARX, the firm’s electronic trading platform. It is a free service to give its clients sexecution capability without brokerage fees.

PowerFill+’s main feature allows clients to anonymously work bids and offers. The best bid and offer forms part of the price that users see, enabling BARX to provide all clients with tighter spreads and deeper liquidity, according to the firm.

PowerFill+ is built on the algorithmic capabilities through PowerFill Orders on BARX FX. It enables clients to access a broad range of order types from an order entry screen with the ability to delay orders to a specific time. Order types available include: Take Profit, Stop Loss OCO, Immediate, VWAP TWAP and Call Level.

“Traditionally, platforms offering this level of order functionality charge their clients fees, but PowerFill+ is brokerage free,” said Tim Cartledge, head of BARX FX Trading at Barclays Capital. “Zero brokerage, plus Barclays Capital’s certainty and depth of liquidity, coupled with the extra liquidity resulting from our clients’ own orders, means we are providing clients with an optimal trading environment.”

“PowerFill+ demonstrates Barclays Capital’s commitment to providing clients with outstanding service and reinforces our position as a leader in market innovation,” said Nick Howard, head of foreign exchange and emerging markets distribution at Barclays Capital. “This is a great addition to our BARX platform which is recognized globally for its reliability and stability with a proven track record during times of market volatility.”

According to Barclays, the system has the ability to trade directly from an intraday graph and monitor or edit any unfilled orders. A liquidity ladder shows depth of book and provides key market insight. Also, its order management tool automatically uploads or downloads orderbooks, giving full visibility and control of all orders based on their proximity to market. Real-time fill progress of each order can be seen.

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