Program Trading is a bayridgling who was bred by Fittocks Stud, located in Upend in Cambridgeshire and Arrow Farm and Stud. Bloodstock agent Mike Ryan bought both Program Trading and Domestic Spending at the 2021 Tattersalls October Yearling Sale where they were consigned him to sale and Ryan purchased him for 250,000 guineas (US$356,551]).[3]
Program Trading is sired by Irish-bred Lope de Vega. Lope de Vega will stand for a 2024 stud fee of €125,000 at Ballylinch Stud in Ireland. Program Trading is the first stakes winner and one of two winners in three starters for the Oasis Dream mare Dreamlike. A winner once in six starts with three seconds, Dreamlike is a half sister to Group 2 Park Hill Stakes winner Silk Sari. Program Trading's third dam is Irish champion Gossamer, a full sister to 1994 Breeders' Cup Mile winner Barathea.
Through his sire, Product Trading was inbred 4s × 4s to Machiavellian, meaning that this stallion appears twice in the fourth generation of his pedigree.