January 28, 2020 - Prime of Prime Liquidity Provider, IS Prime announces today that it has partnered with Pelican Trading, the social copy-trading solutions and white label provider for brokers.
IS Prime has integrated Pelican’s innovative and proprietary copy-trading technology into its trading platforms and can now offer these tools to clients as part of a solution to help drive volumes and customer engagement.
The partnership follows on from the successful launch of IS Prime’s proprietary batch hedging tool in July 2019, which enables brokers to provide the same fill price to all traders involved in social trading. IS Prime’s batch hedging algorithm was specifically designed to support EA, copy and social trading activity, allowing it to handle flow that many providers have, in the past, had to turn away.
The combination of IS Prime’s Batch Hedger with Pelican’s copy and trading tools will enable IS Prime to provide clients with market-leading copy and social trading solutions which can play a key role in driving volumes whilst maintaining core spreads. Raj Sitlani, Managing Partner at IS Prime said: “We have seen a huge rise in social and copy trading across the industry. Partnering with Pelican allows us to extend our reach and quickly deliver solutions that clients need, helping them grow. Pelican’s technology, combined with its FCA regulation, is a very compelling offering.”
Mike Read, CEO Pelican Trading
Mike Read, Co-Founder and CEO of Pelican Trading, commented: “Pelican specialises in working with many of the best-known brokerages in the market, enabling them to offer new and innovative products to their clients. Partnering with IS Prime, a leading Liquidity Provider, with execution technology specifically designed for this sort of flow, enables our clients to have a more effective trading experience.”
Barry Flanigan, Head of Electronic Trading Solutions at IS Prime added: “Whilst the original order can be small there are, at times, a huge number of ‘copiers’ which can lead to very sizeable volumes, both in terms of numbers of tickets and the $ volume traded hitting the market simultaneously. These orders can, if not handled correctly, cause significant market impact as well as sizeable losses to Tier 1 Liquidity Providers.
Barry Flanigan, Head of Electronic Trading Solutions at IS Prime
“IS Prime is perfectly placed, due to its unique batch hedging technology and customisable liquidity, to ensure that it is both executing orders effectively and protecting LPs, and by extension, spreads.
“We have seen great interest in Pelican from our clients and a partnership like this is enormously beneficial to IS Prime, Pelican and our mutual clients.”
Pelican Trading is an award winning, social copy-trading technology solutions and white label provider for brokers. Regulated by the FCA, Pelican’s innovative broker neutral solution connects users directly with brokers, integrating trade execution and communication into a central network for traders. Available via iOS and Android, Pelican’s propriety mobile application enables broker clients to auto-copy signals, execute trades, chat and analyse performance. For further information visit www.pelicantrading.io
IS Prime provides institutional clients with customised pricing primarily sourced from Tier 1 institutions, together with multi-asset Prime of Prime and Agency Brokerage services, and comprehensive front to back technology solutions. The London-headquartered, FCA regulated firm is part of the ISAM Capital Markets Group, which also includes IS Prime Hong Kong (regulated by the SFC) and risk management specialist, IS Risk Analytics. For more information about IS Prime, visit www.isprimefx.com
Integral Reports Record Average Daily Volumes of $55.6 Billion in March 2020
Sucden Financial Hires Thomas Hodge for LME Averaging
J.P. Morgan Establishes an Electronic Foreign Exchange (FX) Trading and Pricing Engine in Singapore
CMC Markets adds 17 new stock sector baskets
CFH Opens MAS Regulated Office in Singapore