Fuze Traders, a prop trading platform based in Switzerland, is set to merge with Labuan-regulated Kubera Markets, which operates as a contracts for differences (CFDs) broker, FinanceMagnates.com has learned.
All shareholders of both entities will become shareholders in the merged company, which will continue to operate under the name Kubera Markets. The entire team at Fuze Traders will also join Kubera Markets.
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The Fuze Brand Will Be Retired
“This is a full merger of what were two separate businesses,” Brian Griffin, CEO of Fuze Traders, explained, adding that the Fuze Traders brand “will be retired” following the merger. Both prop trading and CFDs brokerage services will be offered under the Kubera Markets brand.
“Kubera Markets is a regulated and registered name; to change Kubera to Fuze would take some time for regulatory approval,” Griffin explained, justifying the decision to retire the Fuze brand.
The merger will allow any client of Kubera Markets to purchase prop trading challenges directly from the brokerage platform.
“Prop firms, by their very nature, tend to be sales and marketing focused,” Griffin added. “Thus, we fit well with Kubera Markets, which historically was a wholesale/B2B CFD provider.”
Read more: Prop Trading Survey – 60% of Clients View Brokers-Backed Props as More Trustworthy
A Prop Brand Built by Two Industry Veterans
Griffin is a retail trading industry veteran who spent the initial decade of his career at CMC Markets, before it became a public company. He later joined FXCM as Head of Trading and spent about six years there, before holding executive roles at other companies.
Another key executive at Fuze is Ryan Nettles, who serves as Chief Operating Officer. Nettles made his name in the retail trading industry by spending almost a decade as an executive at Swissquote. He later joined Swiss private equity firm Guru Capital, which acquired the now-closed CFDs broker brand ETX Capital, later rebranded as OvalX.
Both Griffin and Nettles are set to continue their leadership roles at Kubera Markets following the merger.
Fuze Traders, a prop trading platform based in Switzerland, is set to merge with Labuan-regulated Kubera Markets, which operates as a contracts for differences (CFDs) broker, FinanceMagnates.com has learned.
All shareholders of both entities will become shareholders in the merged company, which will continue to operate under the name Kubera Markets. The entire team at Fuze Traders will also join Kubera Markets.
You may also like: Prop Firms Challenge CFD Brokers – Takeover or Coexistence?
The Fuze Brand Will Be Retired
“This is a full merger of what were two separate businesses,” Brian Griffin, CEO of Fuze Traders, explained, adding that the Fuze Traders brand “will be retired” following the merger. Both prop trading and CFDs brokerage services will be offered under the Kubera Markets brand.
“Kubera Markets is a regulated and registered name; to change Kubera to Fuze would take some time for regulatory approval,” Griffin explained, justifying the decision to retire the Fuze brand.
The merger will allow any client of Kubera Markets to purchase prop trading challenges directly from the brokerage platform.
“Prop firms, by their very nature, tend to be sales and marketing focused,” Griffin added. “Thus, we fit well with Kubera Markets, which historically was a wholesale/B2B CFD provider.”
Read more: Prop Trading Survey – 60% of Clients View Brokers-Backed Props as More Trustworthy
A Prop Brand Built by Two Industry Veterans
Griffin is a retail trading industry veteran who spent the initial decade of his career at CMC Markets, before it became a public company. He later joined FXCM as Head of Trading and spent about six years there, before holding executive roles at other companies.
Another key executive at Fuze is Ryan Nettles, who serves as Chief Operating Officer. Nettles made his name in the retail trading industry by spending almost a decade as an executive at Swissquote. He later joined Swiss private equity firm Guru Capital, which acquired the now-closed CFDs broker brand ETX Capital, later rebranded as OvalX.
Both Griffin and Nettles are set to continue their leadership roles at Kubera Markets following the merger.
This post is originally published on FINANCEMAGNATES.
