Pragma, a multi-asset execution technology firm, has released a new generation of Panorama, the firm’s advanced algorithmic management system (AMS).
Panorama 2.0 provides Pragma’s global client base with the next generation in algorithmic management, real-time transaction cost analysis (TCA), and full transparency across the life cycle of their algorithmic orders.
It also offers increased dynamic order performance and venue visualisations, customised alerting, and a high degree of transparency into their algorithmic execution due to its new and faster architecture.
For clients working in partnership with Pragma to run A/B experiments with different algo logic and configurations, Panorama 2.0 provides real-time visibility into the experiment results.
This applies to those using Pragma Mercury AI Technology, powered by deep learning, or working with Pragma to run any other type of algo experimentation on behalf of their traders or external clients.
A/B testing is a way to compare two versions of something to determine which performs better. While it’s most often associated with websites and apps, the method is almost 100 years old and is one of the simplest forms of a randomised controlled experiment
“Two pillars of our service are execution quality and real-time transparency,” said David Mechner, CEO of Pragma. “Top tier execution quality is obviously essential, but having a clear understanding of algorithmic behavior is also critical to enable our broker clients to deliver the high level of support and service that the institutional buyside demands.”
He added, “Panorama 2.0 is a next generation AMS that provides our clients with complete visibility and control of algorithmic orders – from a high-level dashboard overview down to the most granular level of detail. It’s not only a window into the algo engine, but a tool that can influence the algo behavior, ensuring a greater level of control and flexibility for users.”
Clients leveraging Pragma’s 360 platform to support an institutional algo franchise, can also use Panorama 2.0 for coverage personnel to provide a bespoke level of service through dynamic filtering, user-defined alerts, detailed levels of orders and real-time order modification capabilities.
The company said, Panorama 2.0, coupled with Pragma’s web-based TradeReports, a transaction cost and venue analysis service, provide a package of analytics that “equips sell-side brokers and banks with the armour needed to go the extra mile in supporting their buy-side clients.”
