Pragma, a New York based multi-asset class, quantitative trading technology provider, announced it has added two significant capabilities to Pragma360 Equities, its high performance algorithmic trading service, with the release of conditional orders and Pairs 2.0.
Conditional orders are an increasingly popular specialized electronic trading protocol to source large blocks, helping traders ensure they don’t miss trading opportunities or fail to participate in the market as they search for block liquidity.
Pairs 2.0 is a wholesale rewrite of the Pragma360 pairs algorithm, providing increased control over pairs trades, through trade scheduling and rate controls, and more advanced order types.
David Mechner, CEO of Pragma Securities, comments:
At Pragma we are continuously investing in Pragma360 to make sure our clients have the most flexible, advanced tools for their own trading and to offer to their customers.
The incorporation of conditional orders into the platform helps traders combat the challenge they face with thin quoted markets and small average trade sizes in most US trading venues. And similarly, Pairs 2.0 incorporates a host of improvements to provide our customers with a really robust and flexible tool.
In FX, Pragma has a customized algorithmic suite users can access through FXConnect, FXAll, Bloomberg, and other OMS and EMS.