IS Prime has announced a partnership with Pelican Trading, a social copy-trading solutions and white label provider for brokers.
The firm has integrated Pelican’s proprietary copy-trading technology into its trading platforms and can now offer these tools to clients. IS Prime claims that this is part of a solution to help drive volumes and customer engagement.
The partnership follows on from the 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. The firm says that this batch hedging algorithm was specifically designed to support expert advisor (EA), copy and social trading activity.
“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,” says Raj Sitlani, managing partner at IS Prime.
Mike Read, co-founder and CEO of Pelican Trading, says that partnering with a firm that has execution technology that is specifically designed for social and copy-trading – such as IS Prime – enables the firm’s clients “to have a more effective trading experience”.
Barry Flanigan, head of electronic trading solutions at IS Prime, adds: “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 dollar 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.”