Pragma Securities, a provider of quantitative trading technology for the financial services industry, has selected smartTrade Technologies to tap into its foreign exchange (FX) liquidity aggregation platform, according to a smartTrade Technologies statement.
Pragma Securities is an independent trading technology provider that utilizes a plethora of algorithmic trading solutions across a number of asset classes, including equities, futures, and Spot FX. More specifically, the group’s paramount trading platform, Pragma 360 FX, caters to banks and buy-side firms across the financial services industry.
Alternatively, the decision to rely on smartTrade Technologies and its LiquidityFX platform satisfies a need for the provider, satisfying Pragma Securities’ need for customization that can afford its customers liquidity aggregation via a broad spectrum of FX liquidity providers with quick time-to-market.
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According to David Mechner, Chief Executive Officer (CEO) of Pragma Securities, in a recent statement on the selection, “smartTrade’s LiquidityFX offering is impressive, and its flexible components allow us to meet the needs of clients who prefer us to provide them with liquidity aggregation as well as algorithmic trading logic. The fact that smartTrade provides a pure technology solution that we can host and manage as an integrated part of our offering was essential to us.”
“We are excited to help Pragma grow their FX business. Our out-of-the-box and agile LiquidityFX solution allowed for a seamless integration and their clients can now benefit from an unparalleled low latency connectivity to a large range of FX liquidity providers including ECNs, banks, and non-banks,” added David Vincent, CEO of smartTrade Technologies, in an accompanying statement.
Back in June, smartTrade Technologies also extended its LiquidityFX platform to the Japanese online foreign exchange (FX) trading company Gaitame.com.