Tag: Pragma

Pragma

Pragma Signs FX Global Code SoC

Pragma has announcesd it has committed to adopting the principles of the FX Global Code as a market participant.
The FX Global Code was launched in partnership with policymakers and market participants, and provides a common set of guidelines to promote the integrity and effective functioning of the market. By signing a statement of commitment, Pragma affirms that the principles outlined in the Code represent a series of best practices to promote a robust, fair, liquid and transparent FX market.

Pragma Extends Algo Offering to NDFs

Pragma Securities has expanded its algorithmic trading platform, Pragma360, to include NDF products.

While the latest Bank for International Settlements (BIS) survey in 2016 showed that spot FX trading was down 19% compared to three years previous, it also showed that the NDF market grew by 5.3% over the same time period.

The growth of the NDF market, as well as the fact that these products increasingly trade electronically, is what prompted Pragma to start offering algorithmic tools for trading them, Curtis Pfeiffer, chief business officer at Pragma, tells Profit & Loss.

Pragma Completes Migration to NY5

Pragma has completed the upgrade and migration of its New York trading and connectivity infrastructure to Equinix’s NY5 data centre.

The data centre move concludes what Pragma says has been a multi-million-dollar upgrade of its technology infrastructure. Over the last year, it has migrated to a new server and network equipment in a bid to provide its algorithmic trading clients with greater performance, capacity and operational resiliency.

David Mechner, CEO, comments: “Pragma provides enterprise outsourced algorithmic trading solutions to banks, brokers and asset managers. Trading institutions operate in a cost-conscious environment, yet competitive forces require them to continually invest in hardware, as well as software and algorithms.

Pragma Aims to Enhance Transparency with New Database Launch

Pragma Securities has launched TradeBase, a relational database that provides clients real-time access to their parent and child FIX order messages.  The aim of this new database is provide clients with greater transparency when facilitating their risk management, compliance, and monitoring of their algorithmic orders. “Transparency is at the heart of our value proposition, and […]