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    A young male cancer patient with a shaved head on which is written the word strong
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    Barclays' first-ever Commissions for Cancer event showcased how an innovative approach to fundraising can have a significant impact.

    The bank donated 100% of its net FX commissions earned through the BARX Gator platform on trades made between March 1 and March 4 to The Leukemia & Lymphoma Society (LLS). The amount raised by the FX team was the largest donation by any single team at Barclays to a charity ever. During the four-day event, daily FX algo trading volumes increased by 85% percent.

    We love what we do every day and wanted to use our passion for FX, Macro and Markets to give back to the community without even having to leave our desks.
    Ajay Kataria, Head of BARX FX Sales, Americas

    Kataria spearheaded the initiative with Ben Peto, Director, Institutional FX Sales, bringing together global team members across Electronic and Voice Sales to encourage client participation. Their efforts resulted in 57% daily growth in the number of clients trading that week.

    LLS is the largest nonprofit dedicated to curing blood cancer. The organization has invested more than $1.5 billion into groundbreaking research, leading to breakthroughs in treatments that are improving and saving the lives of patients.

    "This event was the first-of-its-kind for LLS and highlighted how creative thinking can yield exponential results," says Jaclyn Gilbride, LLS's Campaign Development Director. "We hope that Barclays continues to pave the way for others."

    A powerful partnership

    The Barclays’ FX sales team spent weeks leading up to the event educating clients about the partnership with LLS and the nonprofit's work. The beauty of the initiative was its low barrier to participation: clients could conduct algorithmic trading as they normally would using our cutting edge BARX Gator dynamic algos and help raise money for this great initiative. Clients would still meet their best execution requirements with full transaction cost analysis and audit logs. The team urged existing clients to be cognizant of their eligible FX trades during the Commissions for Cancer window where possible. They also worked with prospective clients about other ways to support LLS during the event.

    The reception was overwhelmingly positive, Peto says. Commissions for Cancer resonated with clients worldwide.

    We were impressed by how many clients participated. LLS is such a compelling cause, especially when you learn about the research initiatives and the support they provide to those battling cancer.
    Ben Peto, Director, Institutional FX Sales

    Barclays has supported LLS since 2009, raising over $8 million for the nonprofit's cancer research initiatives. As one of the nonprofit's top U.S. partners, Barclays was also the first to raise more than $1 million for the LLS Light the Night Walk.

    A world without blood cancer

    For Peto, rallying behind LLS isn't hard. “We admired and were inspired by the dedication and heroism of healthcare professionals during the pandemic. Commissions for Cancer was our way to deliver a bit of societal good after having been so profoundly inspired by them. And as a father, I found some of the LLS pediatric initiatives particularly touching.”

    Blood cancers are the third leading cause of cancer-related deaths. And 40% of blood cancers are pediatric cases. Since 1949, LLS has been at the forefront of reducing blood cancer deaths, and has now set its sights on improving treatment options for children and young adults.

    Over the past 40 years, there have only been four cancer treatments explicitly developed for pediatric cases. As a result, LLS reports that children are primarily treated with versions of adult treatments, which increases the likelihood of developing a chronic health condition.

    That's why The LLS Children's Initiative is focused on helping to develop precision medicine treatments for children with blood cancer. The nonprofit is funding a global clinical trial for children with acute myeloid leukemia at 200 centres worldwide. The organisation's research has also helped advance all cancer treatments. In fact, 40% of new cancer treatments approved by the FDA since 2000 are blood cancer therapies, and 85% of those received funding from LLS.

    Beyond the impact that Commissions for Cancer has had on furthering our mission, it also raised awareness among new constituencies. Our work is about people, and it's about saving lives.
    Jaclyn Gilbride, Campaign Development Director, The Leukemia & Lymphoma Society
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