Invast Global, an Australian-based non-bank prime services brokerage, has announced a deal with XTX Markets that will allow its clients to access XTX’s liquidity via its multi-asset prime services facility, PurePrime.
Invast claims that the partnership illustrates the rapidly growing stature of non-bank participants in the financial markets as banks continue to feel the effects of increasing regulatory constraints.
The firm says that this tie-up with XTX follows growing global demand for the PurePrime facility, which offers FX and CFD liquidity via multiple trading GUIs or APIs, backed by what it says are three tier-one prime brokers.
Invast CEO, Gavin White, says that “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”.
He adds that this deal, which will enable firms that do not have access to a tier-one prime broker to access non-bank liquidity, “is a huge advantage for many clients” and signals “a new era” in foreign exchange.