Pragma Expands Quantitative Engineering Group

New York, NY - 31 March 2008

Pragma Financial Systems, LLC, a New York-based quantitative financial software provider, today announced the expansion of its quantitative engineering group with the hire of Dr. Eran Fishler as Vice President of Quantitative Engineering. Dr. Fishler will lead development of short-term risk models and algorithms for TradeEngine, Pragma’s advanced trading platform that uniquely integrates portfolio selection, risk management and algorithmic execution to ensure that traders achieve optimal execution and capture maximum alpha.

“Eran is a valued addition to Pragma’s already strong quantitative engineering team,” said Dr. Peter Fraenkel, Director of Quantitative Services and head of the Quantitative Engineering Group at Pragma Financial Systems. “His vast experience in applying advanced statistical methods to various scientific and mathematical problems will greatly enhance Pragma’s ability to provide innovative solutions for advanced algorithmic trading strategies.”

Dr. Fishler joins Pragma from Hite Capital Management, where he worked as a research analyst developing equities trading risk models for long-short investment strategies. He holds an MBA from the Stern School of Business at New York University and a Ph.D. in Electronic and Electrical Engineering from Tel Aviv University in Tel Aviv, Israel. He is also currently serving as an adjunct professor in the Computer Science Program at The Courant Institute of Mathematical Sciences at New York University.

“Pragma has established itself as an extraordinarily innovative firm, providing institutional clients unique, high-frequency trading tools, unmatched for their robustness and quantitative sophistication,” said Lee Maclin, Director of Research at Pragma Financial Systems. “We will continue to bring aboard the industry’s most skilled professionals to help distinguish Pragma as the leading quantitative financial software provider.”

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