(WEB HOST INDUSTRY REVIEW) — Data center operator Switch and Data (www.switchanddata.com) announced on Tuesday that trading solutions provider Pragma Securities (www.pragmatrading.com) has chosen Switch and Data’s New York Financial EcoCenter to house its solutions for automated trade execution and dark pool liquidity.
Pragma Securities provides tactical execution tools and hosted execution services for financial services customers.
The company’s products include ONEPIPE 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.
The company will store these products in Switch and Data’s New York EcoCenter, where they will be 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,” says Peter Fraenkel, chief technology officer at 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 offer sufficient infrastructure to meet the security, volume, and low-latency requirements of the electronic trading community.
The Financial EcoCenters aggregate an ecosystem of the pre/post trade service provider, buy side, and sell side communities into Switch and Data sites.
Switch and Data’s North Bergen data center, which features full N+1 redundancy, is designed to provide high-density power and cooling to support the latest generation of servers, and provides 24-hour security and remote technical support.
The site is interconnected with the company’s existing 60 Hudson St. and 111 Eighth Ave. data centers in Manhattan and to ultra low latency fiber providers with sub millisecond access to all regional execution venues.
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