Pragma, a leading provider of high performance algorithmic trading tools and managed services, has completed the upgrade and migration of its New York trading and connectivity infrastructure to Equinix’s NY5 data center.
The datacenter move concludes a multi-million-dollar upgrade of Pragma’s technology infrastructure. Over the last year, it has migrated to a new generation of server and network equipment in order to provide its algorithmic trading clients with greater performance, capacity, and operational resiliency.
David Mechner, CEO at Pragma, comments: “Pragma provides enterprise outsourced algorithmic trading solutions to banks, brokers, and asset managers. Trading institutions operate in a cost-conscious environment, yet competitive forces require them to continually invest in hardware as well as software and algorithms. Our business model allows our customers to realize significant cost savings by outsourcing highly specialized algorithmic trading technology and infrastructure to us.”
Eran Fishler, CTO at Pragma, comments: “Equinix’s NY4/NY5 data center has become a de-facto hub for equities and foreign exchange trading in North America, and our new space will provide our growing customer base with the benefits of lower cost, lower latency connectivity.
“While we, like much of the industry, are increasingly using the cloud for less sensitive functions, trading applications continue to require reliable low-latency connectivity to trading venues and counterparties, which only a few datacenters globally can provide. This upgrade of our technology stack and datacenter move are just part of meeting the ever-increasing demands of our institutional client base.”