Barclays Capital has introduced Compactions Manager, an electronic swap portfolio compression tool, for clients over the internet.
Barclays said that the new Compactions Manager, available exclusively on BARX Fixed Income, allows clients to collapse interest rate swap portfolios, including both assignments and unwinds, with more ease and efficiency.
The investment banking division expects that the launch of Compactions Manager on BARX, the firm’s electronic trading platform, will give clients better control over the management of their derivatives portfolios.
BARX Fixed Income is an online electronic trading platform for fixed income securities and derivatives. BARX Fixed Income is fully integrated into Barclays Capital Live, a web-based client portal, and other asset class trading platforms such as BARX FX.
In addition, Barclays Capital has also added Closing Price Orders to BARX Fixed Income. This new tool available to eligible clients is an order manager for trades executed at close, typically index rebalancing transactions, allowing easy execution of baskets of trades of fixed income securities at the day’s closing price.
Barclays has added that both Compactions Manager and Closing Price Orders are now live and being used by BARX Fixed Income clients.
Harry Harrison, head of rates trading at Barclays Capital, said: “The Compactions Manager in particular will be extremely valuable to clients as the industry moves to central counterparty clearing for OTC derivatives.”
Andrew Challis, head of global rates E-distribution at Barclays Capital, said: “The addition of Compactions Manager and Closing Price Orders to BARX Fixed Income gives clients more control and flexibility in managing their portfolios online than ever before. These offerings are powerful complements to our existing suite of online fixed income tools.”