Barracuda FX deploys Ideal to optimize trading performance and go by the FX Global Code

Barracuda FX has a long history of offering market-leading products across the front office for banks, brokers, and other financial institutions trading in FX.

Barracuda FX has partnered with Ideal to deploy their turnkey solutions for trading analytics and supervisory risk management, which will help the clients of the eFX trading and order management systems provider to optimize trading performance and adhere to the FX Global Code.

Clients trading within ION-owned Barracuda FX’s environment can now count with Ideal’s performance analytics and supervisory risk management solutions, including Ideal Flow and Ideal Control.

Ideal has brought to the institutional FX space two solutions that provide an unprecedented level of insight and trade supervision to FX trading.

Ideal Flow offers independent TCA reporting, client and counterparty analysis, and liquidity management in one unified interface. Besides best execution reporting, the solution offers powerful visualizations and analysis of counterparty behavior, flagging potential issues to investigate and informing client tiering and flow decisions.

Ideal Control streamlines trade supervision for first-line risk management teams and is particularly relevant for senior managers complying with SMCR as it provides independent validation and evidence of ethical decision-making, greatly mitigating operational, reputational, and regulatory risks. The solution operationalizes trading best practices and principles-based regulation as quantifiable checks, curated alerts, and clear action steps—automating workflows and building a defensible audit trail over time.

FinanceFeeds webinar: Expert panel to discuss market data for multi-asset brokerages  


Barracuda FX tapped Ideal to help clients trading in FX optimize their performance

John Crouch, Chief Executive Officer at Ideal, commented: “The highly specialized analytics powering Ideal solutions reflect our team’s firsthand experience leading trading desks and quant groups for over two decades in-house, within FX, fixed income, and other asset classes. Our in-depth understanding of FX-specific dynamics and workflows translates to user-friendly interfaces with intelligent curation built-in.

“Ideal Flow and Ideal Control analyze the same pool of FX trading data through two different lenses, illuminating how traders can optimize their performance and helping supervisory risk managers adhere to the FX Global Code and MiFID MAR code of conduct principles. We’re excited to bring these decision intelligence solutions to Barracuda FX clients.”

Joshua Walsky, Chief Technology Officer at Barracuda FX, added: “Barracuda FX has a long history of offering market-leading products across the front office for banks, brokers, and other financial institutions trading in FX. Our flagship OMS and solutions for trading, execution, pricing, and distribution provide our clients with modular, end-to-end solutions for their FX trading needs. We are pleased to offer the complementary capabilities of Ideal solutions within our secure environment. Barracuda FX clients can get up and running with Ideal Flow and Ideal Control almost instantly.”