The Australian brokerage is following the trend of the increasing role of non-bank liquidity providers
Citadel Securities has partnered Invast Global to become a liquidity provider for the Australian brokerage and its multi-asset prime service facility, PurePrime. Following the addition of Citadel Securities, PurePrime is now offering disclosed bank, non-bank and ECN liquidity, with aggregation of more than 20 unique FX and metals liquidity providers.
Australian brokerage Invast has announced the addition of liquidity from the market making arm of high-frequency trading focused company Citadel LLC. Invast’s partnership with Citadel Securities is set to deepen the liquidity pool for clients using the broker’s multi-asset prime broking facility PurePrime.
According to Invast, the company’s solution is now offering liquidity from disclosed, non-bank and ECN venues with over 20 foreign exchange and metals liquidity providers (LPs). The addition of Citadel Securities is confirming the latest trends in the industry where non0bank liquidity providers are growing to fill the gap left by big banks.
boost the competitiveness of the product
Invast PurePrime has been a growing business for the Australian brokerage and the addition of new liquidity providers is aiming to further boost the competitiveness of the product.
The Prime-of-Prime (PoP) space has been one of the most demanded services in the aftermath of the Swiss National Bank (SNB) black swan last year.
Commenting on the announcement, the CEO of Invast Gavin White said, “Invast is pioneering the distribution of non-bank liquidity. The PurePrime facility provides an unparalleled channel by which institutions are able to easily access premium non-bank liquidity.”
“The FX space is rapidly evolving, as regulatory reforms reshape the banking industry. Invast is at the forefront, providing institutional clients with a premium alternative to traditional bank prime services,” the CEO of the company elaborated.
Citadel Securities has been providing liquidity in spot G10 and emerging markets foreign exchange as well as bullion. The newest LP of Invast is led by CEO Kevin Turner, who has previously served as COO of Microsoft. Aside from FX, the company is also providing liquidity services for fixed income and equities