As Barclays Capital’s press release describes it:
Compactions Manager, available exclusively on BARX Fixed Income, allows clients to collapse interest rate swap portfolios, including both assignments and unwinds, with more ease and efficiency. This groundbreaking development on BARX, the firm’s award-winning electronic trading platform, gives clients superior control over the management of their derivatives portfolios.
This is a great example of a bank identifying a particular function that’s vital to its clients (and the workflow that’s associated with it) and incorporating it into the user experience (UX) it provides to them.
It’s a concrete example of UX being used as a differentiator with real competitive advantage – at least until all the other banks with FI SDPs copy BarCap. It also clearly shows that UX goes much deeper than a pretty user interface (although BARX FI has one of those as well).