26 Degrees Secures CySEC License

Three months after its rebrand​, Sydney-based multi-asset broker 26 Degrees Global Markets (26 Degrees) has secured a broker license from the Cyprus Securities and Exchange Commission (CySEC), allowing it to operate across the European Economic Area (EEA) .

James Alexander, Global Chief Commercial Officer at 26 Degrees, commented on the new license: "Many hundreds of hours have gone into preparing for the license by the Cyprus operational team, including legal, compliance, and management. We are delighted to finally be awarded the license by CySEC after rigorous standards were met."

Riana Chaili, EMEA CEO at 26 Degrees, said: "We are delighted and immensely proud to have obtained the CySEC license, which emphasizes our dedication to operating with the highest level of transparency and integrity. This additional license further solidifies our position as a leading multi-asset prime broker globally."

In mid-June, Invast Global announced the rebranding of its prime brokerage operation into 26 Degrees Global Markets, repositioning itself to significantly grow its market share over the next five years in the US$20 billion prime services industry.

The broker had planned to acquire GMO-Z.com Trade UK Limited from GMO Financial Holdings, Inc. in last October, with the aim of expanding UK business. However, the deal failed to get approval from the British regulator, FCA. The new CySEC license cemented 26 Degrees's presence in Europe.

Lochlan White, EMEA Chief Commercial Officer at 26 Degrees, added: "The CySEC license approval demonstrates our commitment to building a strong and sustainable business in Cyprus to service our local clients and those in the European time zone. We are excited by the opportunities that this presents for us as a global business and for our valued clients."