- The license will allow the company to access the entire European Economic Area.It already holds a license in Australia.
- 26 Degrees Global Markets (previously Invast Global) has cemented its European presence by obtaining a broker license from the Cyprus Securities and Exchange Commission (CySEC), Finance Magnates learned exclusively.
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The new license from the Mediterranean island will allow the company to operate across the European Economic Area (EEA). Headquartered in Sydney, Australia, 26 Degrees is already regulated by the Australian Securities and Investment Commission (ASIC).
“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,” added Lochlan White, EMEA Chief Commercial Officer at 26 Degrees. “We are excited by the opportunities that this presents for us as a global business and for our valued clients.”
Even before holding the CySEC license, 26 Degrees had a strong presence on the island. It established a Cyprus office and strengthened its team significantly over the years, with Riana Chaili at the helm as EMEA CEO.
“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,” Chaili said. “This additional license further solidifies our position as a leading multi-asset prime broker globally.”
Strategic Moves by 26 Degrees
The new license was added only a few months after the company was rebranded from Invast Global. According to the company, the new branding will help it to reposition and gain a significant market share in the next five years. It is specifically tapping the prime brokerage market following the exodus of many big brands.
Commenting on the new license, James Alexander, Global Chief Commercial Officer at 26 Degrees, said: “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.”
Earlier, 26 Degrees (as Invast Global) approached for the acquisition of GMO Financial Holdings-owned GMO-Z.com Trade UK Limited to pave its way for the UK market. However, that deal could not materialize, resulting in the winding down of GMO-Z.com.
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