New York, NY and Greenwich, CT ─ Pragma Financial Systems LLC, a New York-based quantitative financial software provider, and Weeden & Co. LP, an institutional broker/dealer, today announced they had completed integration with an array of major OMS and EMS vendors, including
"Now buy-side institutions, including hedge funds, state pensions, mutual funds, and investment managers can access Pragma @ Weeden's state of the art algorithms through whatever trading system they already have on their desktop," said Doug Rivelli, managing director at Weeden & Co. "Our clients told us that the convenience of working through their existing OMS or EMS was important, and we listened."
Pragma @ Weeden provides a full suite of algorithmic execution strategies, including adaptive arrival price, Capture, and the OnePipe® optimal liquidity management system.
"Pragma @ Weeden's client's can still use Pragma's rich graphical user interface side-by-side with their OMS or EMS in order to have a greater degree of interactivity and transparency into the detailed workings of the algorithm," said David Mechner, president and director of technology at Pragma Financial Systems. "While OMS and EMS integrations provide a great deal of convenience, our graphical user interface provides a much richer experience, and allows users to have access to the latest and greatest features as they become available."
Pragma @ Weeden is also a participant in the FIX Protocol Organization's Algorithmic Trading Working Group's algorithmic trading definition language (ATDL) project.
