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Trading Technology 30: Jaime Jofre

Jaime Jofre
No. 27
Chief Technology Officer
Pragma Securities 
Jaime Jofre Upon joining Pragma Securities in May, Jaime Jofre jumped immediately into a flurry of technology initiatives. The New York–based execution systems provider had just announced its broker-neutral Hosted Algos service for systematic traders and formed a strategic partnership with Ogg Trading, a foreign exchange advanced execution solutions firm founded by David Ogg, former CEO of the HotspotFX and LavaFX trading platforms. In September, Pragma and its algorithm-development partner Weeden & Co. released Ghost, a strategic tool designed to “take advantage of favorable price action to drive trading velocity without interfering with the price formation process,” said Pragma CEO David Mechner. CTO Jofre, who began his career in 1992 as a Merrill Lynch & Co. software developer and was later head of product development at alternative trading system operator Liquidnet Holdings, says he has been concerned with process improvement and ensuring the proper focus. “It’s not just about speed,” says the 44-year-old, but also about “being able to customize for clients’ needs and still maintain the level of reliability that people expect.” While looking ahead at the need to support Pragma’s planned expansion into futures and at new storage and virtualization technologies, Jofre says, “one of the key priorities is the continuous software cycle. It’s really an endless cycle.”

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