Barclays Capital, the investment banking division of Barclays Bank, has announced the launch of PowerFill+, a suite of online foreign exchange tools providing clients with revolutionary order management and access to deeper liquidity.

This new functionality on BARX, the firm’s award winning electronic trading platform, is free to use, giving clients superior execution capability without brokerage fees, Barclays Capital said in a statement.

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

PowerFill+ is built on the algorithmic capabilities made available to clients through PowerFill Orders, unveiled on BARX FX in 2007.

This new and improved tool enables clients to access a broader range of order types from an easy to use 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 recognised globally for its reliability and stability with a proven track record during times of market volatility," he added.-TradeArabia News Service