Oxtail Holdings, led by Canadian founder Samuel Katallah – has begun what they describe as an early effort to bring regulatory discussions into the forex prop trading space.
According to a recent announcement, AuraXtail is preparing to eventually present its operational model to the Alberta Securities Commission (ASC). While the company acknowledges that registration is not guaranteed, it views the effort as a practical step toward establishing a regulated prop firm in the prop trading industry.
AuraXtail’s leadership describes the initiative as part of a broader push to establish third-party oversight, including plans for independent auditing and operational transparency—key areas that have historically lacked standardization across the industry.
Proposed Oversight Measures Under Review
AuraXtail’s public outline includes several components it says are designed to provide greater accountability to its traders. Among them:
- Independent Financial Audits
The firm has stated its intent to work with licensed Canadian CPA firms to audit how evaluation fees are allocated toward operational costs and live market exposure. The company plans to publish selected audit results in accordance with legal disclosure limits, with the goal of providing traders with verifiable financial data. - Enhanced Payout Oversight
AuraXtail has also proposed adding real-time verification tools to provide traders with more visibility into payout processes—aimed at reducing common industry disputes over delayed or rejected payments. - Technology Development via Aura X
The firm’s technology division, Aura X, is reportedly building a verification platform that could help document trade execution activity and payout transactions in a tamper resistant format. While still under development, AuraXtail says the project is intended to help reduce operational disputes between traders and firms.
Engaging With Canadian Regulators
While formal registration is not currently required for prop trading firms, AuraXtail’s leadership says it will indeed pursue future consultations with the ASC to better understand what a regulated model could look like under their innovative structure.
Broader Markets
AuraXtail has hinted that its long-term plans could include expansion into other asset classes, but for now, the company says its primary focus remains on the forex industry.
In addition to its future regulatory engagement, AuraXtail has confirmed it is currently developing a payment rail—including a debit card program aimed at providing traders faster access to earnings. The firm says this system is designed to address one of the most common complaints in the prop trading industry: payout delays.
Leadership Perspective
Katallah, who previously operated smaller ventures in both the trading and technology sectors, says his past experiences have influenced the verification-first approach now being implemented at AuraXtail.
He credits his early business challenges with shaping the firm’s focus on transparency and third-party oversight, positioning AuraXtail as an example of how voluntary governance measures could improve credibility across the industry.
Industry Impact Remains to Be Seen
While AuraXtail’s efforts are still at an early stage, the company’s public move toward regulatory consultation and independent verification marks a notable shift in an industry that has historically operated with little oversight.
Whether these measures will influence broader industry adoption remains uncertain, but AuraXtail’s leadership says it intends to continue developing its model, regardless of how regulatory discussions evolve.
For traders and industry observers, AuraXtail’s next steps could provide early insights into what the future of prop trading might look like if transparency and governance become the new standard.
