Trading technology provider Pragma has established a connectivity presence in Equinix’s LD6 data center in London to service its growing international client base.
The expansion to Europe enables Pragma to meet growing demand for its Pragma360 platform, which comprises advanced algorithmic trading, order routing and transaction cost analysis (TCA) tools. A report from Greenwich Associates showed that the proportion of volume-weighted FX trading executed algorithmically has increased two and a half times in the past three years.
With trading institutions requiring lower latency and reliable connectivity to trading venues and counterparties, London’s position at the centre of European and international financial markets was a crucial factor when selecting a data center to support Pragma’s European operations.
David Mechner, CEO at Pragma, commented:
Our investment in the data center at Equinix’s LD6 site offers Pragma360 clients access to state-of-the art technology and the largest ecosystem for foreign exchange trading globally. The banks we service need state-of-the-art trading capabilities for their traders and buy-side and corporate clients, making LD6 a natural fit.