Pragma Establishes Crossing ATS
"Nobody has a cross that targets the open or a cross that targets the close," claims Doug Rivelli, CEO of Pragma Securities. "More crosses target parts of the volume-weighted average prices (VWAPs). The differentiation here is that this is the first product that actually supports these order types."
Onecross is a suite of crosses, including the continuous market-on-open and market-on-close crosses along with mid-point continuous crosses and VWAP crosses. "Traders are measured against very
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