Architect Financial Technologies, a startup founded by former FTX US president Brett Harrison, is set to revolutionize the world of financial derivatives.
The National Futures Association (NFA) has granted approval to Architect Financial Derivatives, a subsidiary of Architect Financial Technologies, to operate as an independent introducing broker.
This milestone paves the way for Architect to provide derivatives brokerage services, targeting both the cryptocurrency derivatives and traditional markets, as stated by Harrison himself.
An introducing broker, per NFA guidelines, facilitates the solicitation and acceptance of orders for various financial instruments, such as futures contracts, commodity options, retail off-exchange forex contracts, and swaps. However, it does not handle customer funds directly.
Architect, in essence, is a software provider, with its focus firmly set on building regulated businesses within the exchange-traded derivatives landscape, encompassing not only crypto derivatives but derivatives on a broader scale.
The Architect trading platform is poised to offer a diverse range of derivatives trading options on exchanges regulated by the United States Commodity Futures Trading Commission (CFTC). Clearing services will be provided through trusted, regulated partners.
Moreover, qualified customers will gain access to more than 20 internationally recognized and regulated exchanges through the platform.
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Brett Harrison initiated Architect Financial Technologies in January, securing $5 million in investment from notable backers, including Coinbase Ventures and Circle Ventures.
The company’s primary mission is to provide sophisticated trading software tailored for institutional investors.
Harrison’s track record in the financial industry is notable. As the former president of FTX US from May 2021 to September 2022, he led the company through significant milestones.
During his tenure, FTX US successfully completed a substantial $400-million funding round and unveiled plans to establish a stock trading platform.
His background, shared with former FTX CEO Sam Bankman-Fried, traces back to Jane Street Capital, highlighting a strong foundation in the financial sector.
In summary, Architect Financial Technologies, under the guidance of Brett Harrison, is gearing up to reshape the derivatives trading landscape.
With regulatory approvals in place and a commitment to offering cutting-edge solutions, the company is poised to serve both cryptocurrency and traditional markets, ushering in a new era of financial innovation.
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