Leading non-bank Prime Services brokerage Invast Global and leading non-bank market maker XTX Markets have announced a partnership whereby Invast Global clients will now be able to access XTX Markets’ liquidity via the Invast Global multi-asset prime services facility, PurePrime.
The PurePrime-XTX Markets 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 3 Tier 1 Prime Brokers.
XTX is an electronic market-maker providing sophisticated liquidity solutions in Equities, FX, Fixed Income and Commodity markets. Headed by two leading FX industry executives, former Deutsche Bank global head of FX Zar Amrolia and Alex Gerko, XTX has quickly become acknowledged as one of the top 3 eFX Spot market-makers worldwide (Euromoney 2016). XTX Markets is the only non-bank to place in top 10 for global FX market share.
According to Invast Global CEO Gavin White:
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.
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 the heavyweights of the industry, like XTX, Invast Global is leading the industry in providing access to non-bank liquidity for clients who do not have a Tier 1 Prime Broker.
It is a huge advantage for many clients – even some of the large funds and institutions. 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.