New York, NY ─ Pragma Financial Systems, LLC, a New York-based quantitative financial technology provider, today announced that Roderick Covlin has joined the firm as Vice President of Operations, a newly created position. Mr. Covlin will work with Pragma’s senior management, product development and sales teams to streamline operations and manage the company’s growth.
Pragma created Mr. Covlin’s position in response to growth resulting from strong demand for the firm’s premier suite of high-frequency trading solutions, including Pragma TradeEngine®, the leading algorithmic trading platform, and OnePipe, the leading crossing aggregation service, provided in a partnership with Weeden & Co.
Prior to joining Pragma, Mr. Covlin held senior management positions at E*Trade Professional's predecessor, Tradescape, and Track ECN, which he co-founded. In those two roles, Mr. Covlin’s responsibilities included oversight of the development of new product lines and sales, and firm operations.
“We have seen steadily increasing demand for our trading solutions as both buyside and sellside firms turn to third party technology providers in order to keep up with the increasing demands and complexities of competing in the US markets,” said David Mechner, President and Director of Technology at Pragma Financial Systems. “Rod’s extensive experience managing fast-growing financial services and technology companies, and his strategic insight will be a great help. We are pleased to have Rod join us in this key leadership role as we continue to provide the innovative, high-performance solutions to our institutional client base.”
About Pragma Financial Systems LLC (
www.pragmafs.com):
New York City-based Pragma Financial Systems LLC is a leading developer of quantitative financial systems, including optimal execution and algorithmic trading, crossing network, portfolio optimization, and risk management systems. Founded in 2002, Pragma's clients include financial institutions including brokers, hedge funds, and traditional asset managers.
For additional information, contact:
Marc Weinstein, Spring, O’Brien & Co.
(212) 620-7100, ext. 216
marcw@spring-obrien.com
