London - Barclays has announced the European launch of SPECS, an online portal which will enable clients to view, verify and request changes to their equities order handling settings.
SPECS aims to to meet buy-side traders' requirements for greater control, transparency and trade analytics, and provides a consolidated view of their settings in a simple and accessible format. After a successful launch in the US last year, pilot testing has now been completed in Europe and the system is being rolled out to clients who trade European equities.
Nej D'jelal, Head of Equities Electronic Trading Product said: "SPECS will help buy-side traders navigate an increasingly complex execution environment, including MiFID II requirements in areas such as best execution and algorithmic trading."
A typical SPECS "profile" will include settings related to market access, liquidity preferences, and Barclays LX Europe. SPECS enables clients to view or request changes to their specific profile directly in the online portal. The portal will consolidate notifications, announcements of product updates, and alerts on any changes to clients' settings. Users can also generate a printable report of their settings profile.