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At Pragma, we separate the decision of timing and routing orders from the brokerage function.
FORBES: The Best Price In Equities Markets Could Cost Funds Millions
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Pragma conducted its research by working with clients who were running large enough trading volumes to produce statistically meaningful results.
FORBES: The Best Price In Equities Markets Could Cost Funds Millions
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Pragma, an expert in trade execution, has just published a study show how high-frequent trading (HFT) profits come at the expense of ordinary investors.
FORBES: High Frequency Traders And Current Market Structures Penalize Investors
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The best price in equities markets does not always lead to the best returns, according to Pragma Securities which analyzes markets and prices for a living.
FORBES: The Best Price In Equities Markets Could Cost Funds Millions
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Market makers compete en masse where there is already deep liquidity and no opportunity for price improvement because of the tick size, the Pragma report concluded.
FORBES: High Frequency Traders And Current Market Structures Penalize Investors
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David Mechner, CEO of Pragma Securities, said this study is significant because it is the first quantitative research to show how HFT profits may come at the expense of investors.
FORBES: High Frequency Traders And Current Market Structures Penalize Investors
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Buy-side firms can improve their returns by using a firm like Pragma which specializes in them, or by understanding these issues, , and asking their brokers very specific questions and getting the answers in writing.
FORBES: The Best Price In Equities Markets Could Cost Funds Millions
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Pragma, an independent trading boutique which develops trading algorithms and provides consulting and guidance for buy-side firms, has developed a quantitative model and supporting smart-routing system for passive limit orders that it says significantly improves all-in performance.
FORBES: The Best Price In Equities Markets Could Cost Funds Millions
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Many asset managers could improve their results by using a smart order router that goes beyond explicit costs in determining where an order is executed to consider implicit shortfall costs, according to a new Pragma Securities study.
FORBES: The Best Price In Equities Markets Could Cost Funds Millions
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Unlike some academic studies which deal only with publicly available information, Pragma used a private data set from its customers, who represent about two percent of total market volume on a daily basis, which showed who was placing the orders.
FORBES: High Frequency Traders And Current Market Structures Penalize Investors