Overview

The award-winning Barracuda FX suite of Order Management Systems have been the clear market leader for many years. The range consists of the flagship and unrivalled market leader, Barracuda FX OMS; the innovative, game-changing OMSCloud; and the unique Order Hub service which compliments and connects both products. Barracuda OMS The market leading FX OMS, offering all features to manage the complete range of orders. Spot, forwards and NDFs, Limits, fixings and algos. Single and multi-leg. Voice and eCommerce channels. Fully configurable, elegant interface and workflow controls, within a modern, secure, transparent and audited container. Barracuda OMSCloud  Offering many of the class-leading features found in Barracuda OMS, in an easy-to-adopt, SaaS-based model. Hosted by Barracuda, with rates feed and back office STP included. Supports single and multi-leg spot orders, voice and eCommerce channels. OMSCloud allows Banks with lower order volume to manage them in line with the same best practices as the largest global Banks. Order Hub An electronic order passing network unique to Barracuda client banks. It supports existing bilateral Bank trading relationships. Outsource or insource orders based on currency pair specialisation, time zone or instrument type. Market risk management embedded with your OMS for the complete solution.

Order Management System

A comprehensive, yet flexible suite of class leading FX OMS tools. Manage the full range of FX orders regardless of channel and complexity within a single, intuitive container.  Fully configurable to your business it brings order and simplicity to the process whilst managing risk, security, audit, visibility control and regulatory compliance.

Features

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Order Entry

  • Intuitive interface to reduce entry errors
  • Full support for fragmented order sourcing; manual, SDP, ECN’s, spreadsheets
  • Out of the box API’s
  • Acceptance controls to reduce errors and risk
  • Easy multi-leg order strategy builder
  • Support for your algos

Credit

  • Configurable credit check prior to acceptance
  • Proximity checks for effective credit utilisation
  • API for integration to Bank’s credit

Mark-up

  • Flexible, customisable & integrated mark up manager
  • Standard API to your centralised margin system
  • Options to watch raw limit or marked up limit price
  • Permissions to over-ride mark up at fill
  • Fully audited process

Ownership Routing

  • Control which centre, desk and user(s) manage order
  • Ability for auto or manual onward routing
  • Follow the sun options
  • Manual override features to manage risk
  • Full alerts and notifications around all order events
  • Route to external partner using unique Barracuda Order Hub

Acceptable Controls

  • Customisable controls to govern auto-acceptance of orders
  • Options for different acceptance controls across centres and desks
  • Controls over all order status changes; acceptance, modify, cancel
  • Adjust auto-acceptance by market conditions
  • Effectively manage your risk

Visibility Controls

  • Complete flexibility around visibility controls
  • Manage all order types on one platform safe with appropriate segregation
  • Comply with regulations e.g. fixing orders’ privacy
  • Avoid and prove avoidance of order information abuse
  • Maximise Bank efficiency, client service and privacy

Manual / Auto Fill

  • Manual or Automatic Order Fill
  • Complete control and flexibility around execution
  • Full parameter settings to send order for manual execution
  • Auto-execute within Barracuda
  • Partial fills and permission controlled editing
  • Route to external execution venue of choice
  • Receive fills from algo engine

STP

  • Full alerts and notifications for all events
  • Post-trade downstream STP via standard API’s
  • Options to delay STP to complete order integrity
  • Complete audit trail from order creation to confirmation

Regulatory Compliance

  • Enforce mandatory visibility controls
  • Fully transparent and auditable process
  • Ensure pricing and mark up consistency
  • Keeps the Bank in line with industry best practice
  • Implement agreed client contracts
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Implementation

Many Banks want to upgrade key parts of their eFX infrastructure, but are put off by long and costly implementation projects. This concern is often based on past experience of technology implementation projects. Barracuda OMS deployment is different. Owing to a combination of elegant product design, technical common sense, proven processes and an expert team, typical implementation time is 60-90 business days. Thus Banks can proceed without major IT disruption, moving towards real business benefits in rapid time.

Connectivity & Integration

A major component of FX market complexity is the fragmentation of venues and channels. This provides huge challenges to consistency of service, management of risk and operational cost. Barracuda FX provides seamless, out-of-the-box solutions to these challenges with a set of standard interfaces and adaptors to connect your OMS to whatever order sources, internal systems and execution points that the Bank requires. From standard FIX-based APIs, to all common multi-bank portals, to customisable adaptors to your single bank platform or specific client end point – Barracuda has the answer.

Learn More about Order Hub