Barclays launches live Mena currency swaps
Manama, June 21, 2012
Barclays has announced the launch of the first live and electronic execution of interest rate swaps on multiple Mena currencies.
Accessible through Barclays trading platform BARX, via Bloomberg, clients can either click-and-trade or request quotes for large trades in UAE dirhams and Saudi riyals, ranging from one to 10 years.
"Being the first platform to offer live and executable prices of interest rate swaps in multiple Mena currencies validates our strong commitment to the region," said Barclays Mena chief executive John Vitalo.
"This milestone offering is designed with the specific requirements of our regional clients in mind.
"We are confident that access to electronic execution for regional currency swaps will support clients in efficiently managing risks arising from their global operations."
The interest rate swap products further enhance Barclays' global electronic execution capabilities, where it is already a leading electronic liquidity provider in EM FX across cash and non-deliverable forward markets.
BARX combines liquidity from Barclays across multiple asset classes with trading tools and a dedicated 24-hour service providing institutional clients with the option to select when, how and where to trade, creating greater opportunities across global capital markets, while reducing risks and levelling margin costs seamlessly. – TradeArabia News Service