The dark crossing network offers multiple crossing strategies in a single venue to consolidate liquidity and minimize information leakage and market impact.

The ATS also allows traders to pair off on market-on-open (MOO) and market-on-close (MOC) orders without displaying orders in the open market. Traders can also pair off on full and partial day WVAPs via Onecross VWAP or in the continuous mid-point crossing venue via Onecross Mid-Point.

Onecross is available through most standard EMS and OMS platforms, proprietary platforms or FIX connections. Buy side traders can send orders directly to the cross or through an algorithm with Weeden & Co, Pragma's executing partner.

In a company statement, Doug Rivelli, CEO of Pragma Securities, said, "The introduction of Onecross represents an evolution in efficient execution allowing clients to access unique liquidity at their desired benchmark."

Added Brendan Cummins, Director at Pragma Securities, "The flexibility of Onecross to execute using multiple benchmarks allows both buy-side and sell-side traders to easily integrate the crosses into their work flow, minimize opportunity costs, and increase the depth of liquidity that they can efficiently tap into. The ability for both the buy and sell side to access the crosses directly or indirectly by incorporating the crosses into their own algorithms, helps to consolidate a very fragmented market."

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