Prop Startup Bullo Ceases Proprietary Trading Operations

Proprietary trading startup Bullo, established in February this year, has announced it will cease offering proprietary trading services in light of ongoing regulatory uncertainties. 

The decision, made public on July 30, follows the company's successful completion of its Series A fundraising round and coming as Bullo prioritizes obtaining regulatory licenses in Tier 1 jurisdictions, a crucial step for ensuring the protection of traders and aligning with the firm's long-term strategic goals.

The Bullo Board of Directors, after extensive consultation with third-party experts and regulators, believes it is important to focus on regulatory licensing issues before resuming prop trading activities. While the company may consider relaunching these services when regulatory conditions become clearer, the current regulatory environment has led Bullo to temporarily suspend its prop-based offerings.

Bullo will contact existing customers directly to provide them with detailed information about the transition and to assure them that no customer will be financially disadvantaged by this decision.

Similarly, prop firm The Trader Forge (TTF) suspended operations in July but promised to return to the market in August.