Prime of Prime and Liquidity Provider, IS Prime just announced that it has teamed up 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.
LeapRate reminds that IS Prime has successfully launched a proprietary batch hedging tool last year, enabling brokers to provide the same fill price to all traders involved in social trading. The company’s 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.
Raj Sitlani, Managing Partner at IS Prime commented on the news:
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, Co-Founder and CEO of Pelican Trading, said:
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.
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.