Rise of the non-bank Prime of Primes: Invast Global gains further liquidity from Citadel Securities

In yet another sign of the rise of non-bank entities in the institutional FX industry, Citadel Securities has partnered with Invast Global to become the newest liquidity provider available via the Invast Global multi-asset prime services facility, PurePrime. PurePrime now offers disclosed bank, non-bank and ECN liquidity with aggregation of more than 20 unique FX and Metals liquidity providers.

The partnership follows growing global demand for the Invast PurePrime facility in the Prime-of-Prime space. Tailored for institutional clients, hedge funds and sophisticated traders, PurePrime offers bespoke, optimised FX and CFD liquidity with multiple trading GUIs, backed by 3 Tier 1 Prime Brokers.

Indeed, Invast has established itself as a superior prime brokerage alternative amidst the growing contraction of investment banks in the FX services sphere. As Invast CEO Gavin White says, “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.”

Citadel Securities is a leading global market maker and a part of Citadel LLC, which also runs a hedge fund business. Citadel Securities is led by CEO Kevin Turner – previously COO of Microsoft, and provides liquidity across fixed income, equities and FX. In FX, Citadel Securities specialises in spot G10 and emerging markets foreign exchange and bullion.

This confirms yet another leap forward for Invast as it further strengthens its PurePrime facility, expanding on unique pricing streams and excellence in trade execution. As White concludes, “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.”

Featured photograph: Gavin White, CEO, Invast Global