Pragma Rolls Out New Algo Triangulation Service for FX Trading
- The triangulation service will focus on less-liquid FX pairs and will be available on the Pragma360 platform.
In light of a growing embrace for FX algo trading, Pragma has rolled out a new function for cross pair trading across its Pragma360 suite. The upgrade will help traders better utilize illiquid currency pairs algorithmically with best Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term, as part of a new triangulation service.
The London Summit 2017 is coming, get involved!
Long-term investors and other traders are increasingly moving towards algo trading recently, a trend that looks to continue moving forward. Coupled with healthy demand from banks to offer such services for less-handled currency pairs, the triangulation service could serve a key role for multiple trading entities and venues.
This trend was echoed by a recent study from Greenwich Associates, which found that there is an acute need to trade less liquid currency pairs amongst, specifically amongst real money investors and corporate treasury clients. Pragma has addressed the need with a triangulation service.
Spliced trades, better Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term
The new service will be made available on the Pragma360 FX platform, helping splice trades into two. More specifically, this will include a split trade with a third more liquid currency, i.e. the investors looking to trade the NZD/JPY could see a trade separated into the NZD/USD and USD/JPY – in doing so the service can triangulate or roll up a price for the original NZD/JPY order and offer more liquidity for the original pair.
David Mechner
David Mechner, CEO of Pragma Securities, commented on the service: “Our clients want to extend the benefits of algorithmic trading to illiquid cross pairs. Thus, offering triangulation was a natural evolution for Pragma.”
“Triangulation of more liquid pairs results in a higher quality execution because of narrow spreads and greater liquidity. As a result, bank’s leveraging Pragma360 provide a better trading experience to their clients,” he added.
In light of a growing embrace for FX algo trading, Pragma has rolled out a new function for cross pair trading across its Pragma360 suite. The upgrade will help traders better utilize illiquid currency pairs algorithmically with best Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term, as part of a new triangulation service.
The London Summit 2017 is coming, get involved!
Long-term investors and other traders are increasingly moving towards algo trading recently, a trend that looks to continue moving forward. Coupled with healthy demand from banks to offer such services for less-handled currency pairs, the triangulation service could serve a key role for multiple trading entities and venues.
This trend was echoed by a recent study from Greenwich Associates, which found that there is an acute need to trade less liquid currency pairs amongst, specifically amongst real money investors and corporate treasury clients. Pragma has addressed the need with a triangulation service.
Spliced trades, better Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term
The new service will be made available on the Pragma360 FX platform, helping splice trades into two. More specifically, this will include a split trade with a third more liquid currency, i.e. the investors looking to trade the NZD/JPY could see a trade separated into the NZD/USD and USD/JPY – in doing so the service can triangulate or roll up a price for the original NZD/JPY order and offer more liquidity for the original pair.
David Mechner
David Mechner, CEO of Pragma Securities, commented on the service: “Our clients want to extend the benefits of algorithmic trading to illiquid cross pairs. Thus, offering triangulation was a natural evolution for Pragma.”
“Triangulation of more liquid pairs results in a higher quality execution because of narrow spreads and greater liquidity. As a result, bank’s leveraging Pragma360 provide a better trading experience to their clients,” he added.