Fidelity FundsNetwork to power Barclays platform

Barclays Stockbrokers has partnered with Fidelity FundsNetwork to launch an enhanced version of its platform.

FundsNetwork has signed an exclusive deal which will see it help launch Barclays' new offering via its existing Funds Market platform.

The deal will see FundsNetwork support the settlement of end-to-end execution and servicing of fund assets on the new platform, with its own systems at the core of the offering.

Rupert Dickinson, head of Barclays Stockbrokers, said there is a space in the market for an improved funds offering from the group.

"Clients tell us they want the choice of the widest range of funds that can be accessed with ease and at competitive prices.

"We see a huge opportunity to bring something new to the market by combining our experience and expertise in stockbroking with a greatly expanded and improved fund offering in a single place for the UK's investors," he said.

David White, (pictured), head of FundsNetwork, said: "This new relationship will see us provide dealing, settlement, custody and operational processing. Providing institutional services is a big growth area for FundsNetwork."