Barclays has launched its online pricing and execution platform, Comet, into the UK market in a move which will "transform" the way wealth managers transact flow structured products.
"We believe this is a segment of the market with significant growth potential," said Lisa Chaudhuri (pictured), UK Investor Solutions at Barclays. "This click-and-trade functionality [...] gives wealth managers full control over every bespoke trade for individual client portfolios, not just in terms of structure shape [...] but also with respect to timings and size."
Designed by BARX, the e-commerce business arm of Barclays, Comet will allow wealth managers to price, trade and execute tailored structured investments across a wide range of global underlyings, including equity indices, stocks, exchange-traded funds and precious metals such as gold, silver, palladium and platinum.
As with every other click 'n trade platform in the market, Comet automatically generates documentation at both the quote and execution stage, and allows investors to create bespoke trades at much smaller sizes than previously possible.
Comet will be available via multiple channels, including online, email or in a customised form.
Barclays has completed a series of roadshows in London, Manchester and Edinburgh to support the launch and will be hosting a series of platform demonstrations to professional clients to show the platform's functionality and full range of capabilities.
Comet is currently available to wealth managers across Europe, the USA and Asia, handling more than 90,000 intraday pricing requests a month.