Switch and Data (NASDAQ: SDXC), a leading provider of network-neutral data center and Internet exchange services, announced today that Pragma Securities, an established provider of sophisticated and innovative quantitative trading solutions, has chosen Switch and Data's New York Financial EcoCenter to house its growing and diverse solutions for automated trade execution and dark pool liquidity.
Pragma Securities is a pioneer of tactical execution tools and hosted execution services for a diverse financial services industry client base. Pragma's products include: ONEPIPETM 2.0,which unites over 40 dark pools, crossing networks, streaming liquidity venues and open market destinations into a single, integrated liquidity source and TradeEngine®, a hosted ASP application for buy side direct market access customers. Each of these products will be located in Switch and Data's New York EcoCenter and one cross-connect away from the other electronic trading customers in the site.
"We chose Switch and Data's New York Financial EcoCenter after an extensive diligence process," said Peter Fraenkel, Chief Technology Officer, Pragma Securities. "Its central North Bergen, New Jersey location, robust N+1 power and cooling infrastructure, and geographic proximity to multiple financial markets were key factors in our decision. Equally importantly to a growing company like Pragma, the site provides ample space and power availability to scale our operations."
Switch and Data's Financial EcoCenters provide mission critical infrastructure to meet the security, volume, and low-latency requirements of the electronic trading community. The EcoCenters aggregate an ecosystem of the pre/post trade service provider, buy side, and sell side communities into Switch and Data sites located in the geographic center of the major liquidity providers in New York and Toronto.
"Trading firms and other financial service providers are attracted to our EcoCenters by opportunities to improve their operations by leveraging our other best-in-class providers," said John Panzica, Vice President of Switch and Data's Financial Services Practice. "Pragma Securities is an expert in order execution and routing and is a welcomed addition to our community."
Switch and Data's high-performance North Bergen data center features full N+1 redundancy for its UPS, generator and cooling infrastructures. It has been designed to provide high-density power and cooling to support the latest generation of servers, and provides 24x7 security and remote technical support. The site is interconnected with the company's existing fully-deployed data centers at 60 Hudson St. and 111 Eighth Ave. in Manhattan and to ultra low latency fiber providers with sub millisecond access to all regional execution venues.