Barclays Capital, the investment banking division of the Barclays Group, has launched two new e-commerce initiatives. XTAS (eXchange Traded Access System) is a new Internet-based futures trading platform that allows end users to deal directly on futures exchanges around the world by providing them with their own order entry capability. The initial release allows direct access to the German and Swiss exchanges, LIFFE, the Tokyo exchanges and direct electronic access to the pits of the Chicago exchanges. CB Webinfo allows investors to view research on convertible bonds, market commentary, indicative prices and prospectuses on-line. Phase two of the site, CB Webtrade, will combine these features with a convertible bond database with terms for more than 3,000 issues, a CB model interface, chat facility and on-line trading capability. Phase two is due to start early next year.