Pragma launches triangulation algo for crosses

New functionality will enable clients to achieve better execution when trading illiquid currency pairs

New direction: “Our clients want to extend the benefits of algorithm trading to illiquid cross pairs" – David Mechner

Algorithmic trading technology provider Pragma Securities has launched a triangulation algo for less liquid crosses, which allows trades to be divided into two parts and traded via the pairs using the most liquid currency as the common base to triangulate liquidity.

The algo, which is available on the company’s trading platform, Pragma360, can achieve a better outcome with triangulation and allows the benefits of algo trading to be extended to less frequently traded currencies.

“Our clients

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