US – Barclays Global Investors (BGI) has launched an on-line trade order service for US pension plans, allowing funds to place cash-based orders through www.barclaysglobal.com.

The service, Orders Online, which was formerly only available to individuals, will be expanded to international pension scheme clients in the future, the company says.

“ The largest institutional investors should have the same convenience and efficiencies, which the web provides individuals,” says Patricia C Dunn, global chief executive officer at Barclays Global Investors.

The website provides reports, monthly trust statements, fund performance, unit values and investment research capabilities.

Pension plans can also access end-to-end reporting capabilities, via which they can review orders placed, ongoing status and final settlement.

The service uses RSA SecurID system from RSA Security, which requires an identification number and a password. The password has to be generated by a device, which creates a random code every minute.

BGI has over US$830bn in assets under management for nearly 1,600 clients worldwide.