Trading and Execution
Barracuda FX’s trading and execution solutions offer all the functionality needed for a rich, configurable, yet simple to use product for accessing dealer-to-dealer markets.
- Market access to leading interbank markets such as Reuters, EBS, XTX, as well as over 25 banks for direct LP connectivity.
- Liquidity aggregation, including price filtering, banding, and throttling capabilities for building consolidated books.
- Smart order routing capabilities, with out-of-the-box functionality for common algos such as Icebergs, full amount trading, TWAPs, and a rules engine to build any other type of rules-based trading algorithm.
- A flexible and configurable Trader UI, allowing for price monitoring and manual order placement.
Pricing and Distribution
With Barracuda FX’s pricing and distribution offering, financial institutions have the ability to construct and distribute client pricing and accept requests for quote/stream from those clients. Features of Barracuda FX’s pricing and distribution technology include:
- A rich rules-based engine, capable of creating any number of tiers of client pricing, including prices bespoke for each client.
- The ability to respond to client RFQs of spot, forwards, swaps, NDFs, and money market enquiries by integrating with forward pricing curves.
- A sales trader workflow, allowing sales personnel to trade on behalf of their clients.
- The ability to use internal credit checking libraries or integrate to external services for credit check or regulatory approval.
- A Dealer UI, which allows for manipulation of core client rates, as well as handling rules-based dealer interventions on individual client quotes.
- Sophisticated hedging logic, allowing for position-based auto-hedging, as well as back-to-back hedging that can be managed through deal-and-cover or cover-and-deal workflows.
The Barracuda FX OMS is the clear, global market leader, having won the P&L Magazine Awards for Best FX OMS for 10 consecutive years from 2011-2020. It is a feature rich, intuitive OMS connecting trading and sales personnel to their clients across a distributed market, and providing the tools necessary for efficient risk management and service provision.
- Precious metals
- Single leg resting orders
- Multi-leg resting orders
- All major multi dealers
- Bank’s single dealer
- Any third-party system via FIX adapter
- EBS eFIX matching service
- Order Hub
- All relevant internal bank systems
A fully hosted and maintained network to connect our clients’ OMS systems via optional, bilateral connections for the exchange of all FX order types.
- Insource or outsource market risk
- Outsource by currency or time zone
- Fully secure and audited order lifecycle
- Real time alerts and notifications
- Execute fixings risk
- White label algos