Technology vendor Pragma plans to introduce new foreign exchange trading algorithms in the fourth quarter.
Called Samba FX, the technology represents a new market for Pragma which is best known for its equity trading algorithms.
In an interview with FX Week, which first reported the news, Danielle Caravetta, Pragma’s director of institutional sales, said the firm was seeking to “fill a void” with the new offering.
Algos are not new in fx. Most are offered by banks, Caravetta explained.
Caravetta joined Pragma in June from Credit Suisse.
The new strategies will include volume- and time-weighted, liquidity sourcing, and opportunistic. Pragma is also rolling out transaction cost analysis for foreign exchange trading.
