Barclays to trade TWD interest rate swaps electronically

The electronic trading can be done using the BARX platform via Bloomberg.

In a release, Barclays announced the launch of electronic trading of Taiwan Dollar interest rates swaps on BARX via Bloomberg. The new product offering adds to the extensive suite of Emerging Markets products now available to trade electronically.

Cosmas Lu, Managing Director, Barclays CEO and Branch Manager, Taipei said: “The launch of electronic execution of Taiwan Dollar interest rate swaps demonstrates our continued focus on our clients. Traditionally, the majority of TWD IRS was done via brokers, however we started to see an increase in the number of direct enquiries last year leading to the launch of the new product capability using the firm’s award-winning BARX platform via Bloomberg.”

TWD is the latest currency to be added to Barclays’ emerging markets rates products that include CNY, HKD, KRW, INR, MYR, and SGD. In addition to IRS, BARX also offers clients access to Asian credit and Asian government bonds market, including CNH.

In the CNH space, BARX is already offering pricing on spot, forward, swap and options around the clock during London and New York trading hours as well as Asian hours. This service is available to clients to trade CNH against G10 and Asian local currencies.

Barclays has also led innovation in emerging markets foreign exchange. The BARX platform currently offers electronic trading of Asian non-deliverable forwards (NDFs) and non-deliverable options.

Conor Brown, Head of Emerging Markets Trading, Asia Pacific said “Our commitment and effort in strengthening our emerging market offering is a reflection of growing interest from our clients in emerging markets products. With this new capability, we continue on our path to offering our clients the best possible service while facilitating the growth of the market itself.”

BARX FX was recently named the best single-dealer platform by clients in Euromoney FX News’ inaugural buy-side electronic trading survey