Beyond Barx: where Barclays is going next in tech ‘arms race’
Mauricio Sada-Paz: “Previously, we were focused solely on the SDP, but now we’re more balanced”
In foreign exchange, for almost two decades, Barclays has been synonymous with Barx – the single-dealer platform (SDP) that catapulted the bank into the top tier of global FX banks, and came to dominate its strategy. The bank’s aim was to drive more clients, volumes and revenues through the platform.
Now, not so much. Barclays has become more willing to pipe its prices into multi-dealer venues and the execution management systems (EMSs) that aggregate liquidity for buy-side market participants