Pragma Launches Spot FX Trading Tools
![david-mechner-pragma david-mechner-pragma](/sites/default/files/styles/landscape_750_463/public/import/IMG/272/290272/david-mechner-pragma.jpg.webp?h=e86fe017&itok=yn-U4yO0)
"The FX market is hungry for the same type of advanced trading tools that have transformed other asset classes," says David Mechner, CEO of Pragma. "Pragma meets this need in a unique way, by offering a package of tools including TCA and high-quality spot FX algorithms as a pure service bureau or technology service. As a company, our business model is not based on proprietary trading, capturing spread, or internalization, but on providing our clients with trading tools whose only aim is to provide best execution."
Pragma360 is delivered as a hosted software service, and can be implemented atop a custom liquidity cloud managed by Pragma, or on top of a liquidity pool already maintained by the client. This model allows clients to maintain direct trading relationships with their counterparties, while having a level of transparency and control that normally comes only from an in-house solution. For example, Pragma360's TCA tools provide transparency not just into the performance of the algorithms, but into the characteristics of the different trading venues' counterparties - dealers and ECNs - that can inform routing decisions.
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