Algorithms

Pragma’s US equity algorithms address the full spectrum of traders' needs. Single-stock algorithms, from aggressive liquidity sourcing to opportunistic price-sensitive single-stock strategies effectively address both tactical and strategic single-stock trading objectives. Pragma's basket algorithms provide intelligent scheduling and flexible constraints for efficient systematic trading. All of Pragma's algorithms make use of Pragma’s extensive network of dark pool connections, Lifeguard order-protection logic and destination quality monitoring program, and use Pragma’s advanced, high-performance microtrading components.

• Strike – Aggressive, intelligent, comprehensive liquidity sourcing. More liquidity, less impact.
• Smart DMA – Maximum liquidity sourcing – access all the liquidity available in the market up to a price point.
• Daggregator – Midpoint or better dark pool aggregation with Lifeguard sophisticated anti-gaming technology.
• OPS – Opportunistic, price-sensitive strategy.
• VWAP – Minimize slippage relative to volume-weighted average price.
• TWAP – Minimize slippage relative to time-weighted average price.
• POV – Participation strategy with target, minimum, and maximum rates.
• Implementation Shortfall – Minimize slippage relative to arrival price optimizing market impact, price risk, and opportunity cost.
  
• Pairs – Execute pairs with tight control over exposure.
• Adaptive overlays – Layer customized adaptive behaviors including minimum and maximum participation rates, price adaptivity, and dark pool interaction.

Pragma also provides algorithmic customization services, offering rapid development and deployment of trading algorithms customized to achieve your specific trading objectives, and analytical support in tracking algorithmic performance.