Pragma Releases Algo for Cross-Pair Triangulation

The new algorithm, which automatically splits trades in illiquid currency pairs to more liquid ones, is available on Pragma360.

curtis pfeiffer
Curtis Pfeiffer, chief business officer, Pragma

Pragma is updating its Pragma360 to support the triangulation of cross-pair trading. The algorithm splits the trade across more liquid currency pairs, like the US dollar, then mathematically averages the results for a price.

“This new algorithm was based on client feedback in the spot foreign exchange (FX) market,” Curtis Pfeiffer, chief business officer at Pragma, says. “They wanted to expand the benefits of algorithmic trading into less liquid currency pairs.”

Before the algorithm was

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