Labuan-regulated broker Kubera Markets has merged with Swiss-based prop trading firm Fuze Traders.
The two companies have already merged, with the combined entity operating under the Kubera Markets brand. Fuze Traders employees will also be moving over to join the entity.
Clients have been informed about the change, which was made in part because of the potential regulatory headaches that would come with maintaining the Fuze brand.
The terms of the deal were not announced but shareholders of both companies will remain as shareholders in the new, joint entity.
Kubera has historically been a provider of B2B services for CFD trading. The company has also acted as an account provider to props, who wanted to use a third-party’s platform for their client’s accounts.
This kind of activity has become progressively more difficult due to pressure from tech providers and also because many props have ended up getting access to their own trading platform.
