Multi-Asset Prime Brokerage Invast Global Rebrands as 26 Degrees

The Sydney-based leading multi-asset broker Invast Global​ announced today the rebranding of its prime brokerage operation into 26 Degrees Global Markets (26 Degrees), repositioning itself to significantly grow its market share over the next five years in the US$20 billion prime services industry.

As for the meaning of the new name, the company explained that 26 Degrees refers to the 26th degree latitude which runs parallel across the widest breadth of Australia dividing it from North to South. The latitude crosses the Indian Ocean to meet the Cradle of Humanity in South Africa, where humankind evolved. 

The billion dollar industry, once the domain of global investment bank behemoths, has become increasingly fragmented over the last five years, with the number of market participants decreasing, 26 Degrees stated. Broker-dealers, hedge funds and family offices therefore are left out in the cold by the shakeout in the prime brokerage market. They are increasingly disenfranchised by the diminishing service levels and more costly access to liquidity offered by the larger Tier 1 banks.

​"The prime brokerage global market is in a state of flux. This has highlighted the strong position of prime broking independents such as 26 Degrees to step up and support these underserviced market segments," said Chief Executive Officer Gavin White.

With the collapse of a number of international banks and the resulting headwinds, 26 Degrees has strengthened its relationships with Tier 1 investment banks including, JP Morgan, Deutsche Bank, NatWest and Morgan Stanley, accroding to Gavin White.

"26 Degrees is seizing the opportunity that this shift in Prime Services presents and we are challenging the dominant model in our industry," said White. "We are very excited to be modern pioneers of the independent model, providing accessible prime solutions and are stepping up our presence globally as a prime partner of choice".

Invast Global is a registered trading name of Invast Financial Services Pty Ltd. Based on the official website, the CFD trading business targeting individual traders is still operating under the Invast Global brand.