In a move to further consolidate the leading technology provider’s position in the online FX/CFD space, Panda Trading Systems recently announced that it has become an official distributor of CBOE Global Markets data. Any brokerage taking advantage of Panda’s high-quality asset data feeds can now have access to the Cboe’s extensive list of offerings, including US and EU equity markets, US options and US futures.
The news comes hot on the heels of several high profile integrations and updates the company has made to its brokerage ecosystem in recent months. The first was a partnership with Google’s Vision AI team that yielded an automated document verification module in Panda CRM, allowing for much smoother onboarding with higher throughput and less human intervention.
This was followed by Next Call AI, a smart assistant for sales and retention teams, informing them of the most important next call to make based on real-time client activity data.
More recently, the company announced an integration with customer messaging specialist OneSignal, which brings all the power of the OneSignal messaging service to marketers using Panda’s flagship CRM product.
This most recent announcement takes a different tack, as it significantly bolsters the company’s data provision capabilities, rather than upgrading any of its core products. When asked about the rate of these recent announcements, Or Gold, Head of Commercial Operations at Panda Trading Systems, had the following to say:
“It has definitely been a busy year here at Panda, but you have to understand that these announcements are the result of a great deal of prior research and development that’s coming to fruition now. Another thing to keep in mind is that each addition to our ecosystem improves the day to day operations of a different set of brokerage departments. The document verification module was designed specifically for back-office and compliance. Next Call AI is most useful to sales, retention and even customer support teams. The OneSignal integration adds some very useful functionality for marketing.”
As for the decision to strengthen the company’s market data provision, Gold explains that data provision is another important vertical for Panda.
“What we’ve seen with the pandemic is the acceleration of two trends that were already there before COVID-19. More day to day activities are moving online and trading is going through a phase of mass adoption. If you look at the growth of market data feeds over the past five years, it reveals how important high-quality data is to an increasingly online world. We’re not just in the business of providing raw price feeds, but also refining them for use in a host of derivatives trading products, as well as in the creation of custom indices and other synthetic assets. For these reasons, the Cboe was an ideal choice for us. It’s renowned for being a source of robust and reliable market data across the spectrum of asset classes.”
To close, Gold spoke about how this partnership fits into Panda’s broader strategy.
“It’s in our tagline, ‘making trading better for everyone.” Over the past decade or so, we’ve expanded into all areas of the online brokerage business, so that we can be a one-stop-shop for anyone wanting to get into the business. Market data is yet another one of these crucial areas, so this deal has the effect of strengthening all the other parts of our brokerage ecosystem.”
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