Weeden & Co. and Pragma Financial Systems Launch OnePipe Plus™

8 December 2008

Weeden & Co., LP, a full-service institutional broker, and Pragma Financial Systems, LLC, a quantitative financial technology provider, today announced the launch of OnePipe +, a new product that is part of the OnePipe Optimal Liquidity Management System. Launched in January, OnePipe quickly established the industry’s highest fill rates among non-displayed venues.

Building on the award winning success of OnePipe, OnePipe + is expected to provide maximum liquidity exposure in both displayed and non-displayed markets and achieve higher fill rates for client orders.

Utilizing OnePipe’s optimal order allocation logic, OnePipe + will provide access to more than 40 different market destinations from a single integrated source available on the trader’s desktop. OnePipe + offers the broadest and most intelligent exposure to liquidity in the U.S. capital markets.

OnePipe + enables clients to control how aggressively they want to interact with the open market. Traders may also fine-tune their open market trading parameters to match their level of urgency.

OnePipe + utilizes the same advanced anti-gaming logic, Lifeguardâ„¢, as the existing OnePipe product. By monitoring trades and quotes across markets, Lifeguard dynamically estimates a fair, manipulation-free price and sets trading limits to prevent adverse crosses. OnePipe + is available through any OMS or EMS system via a FIX connection.

“Our buyside clients want access to the largest amount of liquidity while protecting their intentions from being broadcast to the market,” said Douglas Rivelli, Managing Director at Weeden & Co. “OnePipe + ensures that they can take full advantage of both light and dark liquidity and maintain absolute control over their risk level and market interactions.”

“Many clients want to know that their orders are probing the displayed markets as well as dark pools when searching for liquidity,” said David Mechner, President at Pragma Financial Systems. “Whether a trader has urgency due to short-term alpha, or is trying to lock in a favorable price, OnePipe + is designed to capture all the available liquidity in an optimal way.”

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