Barclays Capital, the investment banking division of Barclays Bank PLC, announced on Saturday 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. 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. 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. Meanwhile, Barclays Wealth also announced the appointment of Sahba Hadipour as director to its International Private Banking team in the Middle East. He will report into Fawaz Baba, general manager of the Dubai International Private Banking Office. Based in the Dubai International Financial Centre, Hadipour will be a private banker focusing on the high net worth and ultra high net worth markets in the United Arab Emirates. Within his new position, Hadipour's experience with private equity along with his knowledge of the wealth management industry in the region will compliment the full array of the Barclays Wealth value proposition. Soha Nashaat, CEO Barclays Wealth, Middle East and North Africa, said: “Sahba's deep knowledge and unique experience of the private equity and wealth management industry will undoubtedly bring valuable skills to Barclays.
