New York--Barclays Capital, the investment banking division of London-based financial services
giant Barclays Group, has launched a pair of electronic-commerce initiatives aimed at the
futures and convertibles marketplaces. The company has rolled out XTAS (eXchange Traded
Access System), an Internet-based system for futures trading, as well as CB Webinfo, a Web-
based system for convertible bonds. Barclays Capital will globally market the Net exchanges to its institutional customers. Barclays' developments are pivotal because it puts the firm in pole
position in the budding futures and convertibles Net marketplaces.