Pragma Financial Systems, a New York-based quantitative financial technology provider, has appointed Roderick Covlin vice president of operations – a newly created position. Covlin will work with Pragma’s senior management, product development and sales teams to streamline operations and manage the company’s growth.
Pragma created the position in response to growth resulting from demand for the firm’s suite of high-frequency trading solutions, including Pragma TradeEngine, an algorithmic trading platform, and OnePipe, a crossing aggregation service, provided in a partnership with agency broker Weeden.
Before joining Pragma, Covlin held senior management positions at trading firm Tradescape and Track ECN, which he co-founded. In those two roles, his 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 buy-side and sell-side 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, Pragma, in a statement. “Covlin’s experience managing fast-growing financial services and technology companies, and his strategic insight will be a great help. We are pleased to have him join us in this leadership role as we continue to provide solutions to our institutional client base.”