NYSE Brokers to Receive Algo Trading Software

Pragma Financial Systems announced today that it has partnered with NYSE Euronext to provide algorithmic trading tools to New York Stock Exchange floor brokers.

This will mark the first time the NYSE community has algorithmic execution tools available on the trading floor.

The partnership is the latest in a series of moves by NYSE Euronext to provide the floor community with technology suited to better compete in an increasingly electronic national marking system. This step is intended to help NYSE Euronext's distinctive hybrid market model to continue to support a floor presence.

The new algorithmic strategies are customizable and will trade on parity, providing brokers with the ability to match on every trade. The NYSE will gradually roll out the new algorithms during the next several weeks.