“Efficient interlisted trading is a very tricky problem. A trader has to deal with different rules and market structure, as well as significant fragmentation across exchanges and alternative venues on each side of the border, and an additional FX component.”
Pragma has further enhanced its deep-learning enabled execution algorithms to intelligently trade Canadian and U.S. interlisted equities, the provider of multi-asset class algorithmic trading technology announced.
Mercury, the firm’s deep neural network-based execution engine, controls the routing, sizing, pricing and timing of orders, and has reportedly improved execution quality, with an average shortfall improvement ranging from 33% to 50% across billions of traded shares.
Pragma has extended its support for Canadian and interlisted equity trading as a natural extension of its deep learning capabilities. Clients can now access more intelligent execution algorithms for Canadian and interlisted equities.
“Efficient interlisted trading is a very tricky problem”
David Mechner, CEO of Pragma, said: “Efficient interlisted trading is a very tricky problem. A trader has to deal with different rules and market structure, as well as significant fragmentation across exchanges and alternative venues on each side of the border, and an additional FX component.
“This complexity was an R&D challenge, but ultimately plays to the strength of the Mercury deep neural network microtrading engine, which learns through training to exploit complex multi-dimensional interrelationships across stock characteristics, venue characteristics, the liquidity demands of the order being traded, and real-time high-frequency market signals.”
Pragma’s Panorama allows clients to view customized A/B experiements
Pragma also boasts an algorithmic management system, Panorama, which allows clients to view customized A/B experiments with the new Mercury algorithms on a real-time basis.
Panorama, which was recently revamped, covers algorithmic management, real-time transaction cost analysis (TCA), and full transparency across the life cycle of the algorithmic orders of Pragma’s client base.
The revamped version, Panorama 2.0, can be coupled with Pragma’s Pragma360 platform and TCA solution TradeReports.
The new and faster architecture of the algo management system also enhanced the dynamic order performance and venue visualizations, customized alerting, and the degree of transparency into clients’ algorithmic execution.