Clients can set up a connection through IGN or establish cross-connects directly with Pragma. Contact IGN directly to discuss IGN connectivity. For Pragma cross-connects, complete the Cross Connect Order Form and email to PolarisSubscriber@pragmatrading.com.
In the second phase, Clients will be able to add an algo instruction, including VWAP, TWAP and POV, on their FIX New Order – Single message. This is not a new workflow as these orders will remain High-touch.
Pragma charges $550/month per FIX session. As of today, sessions are purchased by member firms or by OMS providers/Service Bureaus on behalf of their clients. Member firms and OMS’s/Service Bureaus may have more than one FIX session.
OMS providers are able to connect to Polaris on behalf of their Clients. The process is similar to that of a client connecting directly to Polaris.
Yes — both buy- and sell-side Clients can connect to Polaris directly or via a broker OMS. Please discuss the connection with your Floor Broker to determine their connectivity preference.
No, Pillar Gateways cannot be used to route order to Polaris. You will need to establish connectivity to the Polaris infrastructure via the Polaris FIX specification.
Please discuss with your Floor Broker what steps you need to take to onboard with Polaris for order entry.
Clients can direct Closing dOrders to NYSE via a Floor Broker in an automated manner. The Floor Broker retains control over the order, including risk. For more information, please contact your Floor Broker.