Prime services brokerage Invast Global has announced a partnership with non-bank market maker XTX Markets, a provider of liquidity solutions in equities, FX, fixed income and commodity markets, whereby Invast Global clients will now have access to XTX Markets’ liquidity via the Invast Global multi-asset prime services facility, PurePrime.
The partnership illustrates the rapidly growing stature of non-bank participants in the financial markets, as the banks continue to feel the effects of increasing regulatory constraints.
PurePrime now offers disclosed bank, non-bank and ECN liquidity from over 20 unique FX and metals liquidity providers.
The tie-up between XTX and Invast follows growing global demand for the PurePrime facility. Tailored for institutional clients, brokerages, hedge funds and sophisticated traders, PurePrime offers optimised FX and CFD liquidity via multiple trading GUIs or API, backed by three tier one prime brokers.
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Commenting on the partnership, Invast Global CEO Gavin White said: ‘The well-documented and undeniably impressive rise of XTX is a prime example of how the FX space is rapidly evolving, with clients seeking non-bank liquidity amidst growing bank-centric regulatory reforms”.
Access to Non-Bank Liquidity
Traditionally, only the largest funds and institutions have been able to get access to the benefits provided by the non-bank market makers. This is because access has relied on the client having a tier one prime broker relationship.
By partnering with XTX, Invast Global is playing a part in providing access to non-bank liquidity for clients who do not have a tier one prime broker.
“It is a huge advantage for many clients, even some of the large funds and institutions”, continued White. “We are bringing clients the best of both worlds – the best Tier 1 bank liquidity aggregated alongside the best non-bank liquidity. It’s a new era.”
In line with the growing trend of non-bank liquidity providers, Invast Global also signed a deal last month with market maker, Citadel Securities, once again to offer clients deeper liquidity via its PurePrime facility, as reported by Finance Magnates.