Architect Financial Technologies, spearheaded by former FTX US president Brett Harrison, has achieved a significant milestone with its Architect Financial Derivatives subsidiary obtaining approval from the National Futures Association (NFA) to operate independently as an introducing broker.
This development marks a pivotal moment in Architect’s journey, positioning it to offer exceptional derivatives brokerage services in both the cryptocurrency and traditional markets.
A New Vision for Derivatives Trading
Architect Financial Technologies is not limiting its ambitions; instead, it’s setting its sights on both cryptocurrency derivatives and the broader traditional market. Harrison emphasized the company’s commitment to building a robust presence in the exchange-traded derivatives space, encompassing crypto derivatives and beyond.
In an interview with Bloomberg Markets, Harrison outlined the core objective of Architect Financial Technologies:
“Build out regulated businesses in the exchange-traded derivatives spaces, not just for crypto derivatives but for derivatives at large.”
This vision is poised to reshape the derivatives landscape.
Comprehensive Trading Solutions
Architect’s trading platform will be a one-stop destination for a diverse range of derivatives. It will facilitate trading on exchanges regulated by the United States Commodity Futures Trading Commission while ensuring seamless clearing services through trusted partners. Additionally, it will grant qualified customers access to more than 20 regulated exchanges worldwide.
The Genesis of Architect Financial Technologies
The journey began in January when Brett Harrison embarked on this venture with an initial investment of $5 million from notable backers, including Coinbase Ventures and Circle Ventures. The primary aim was to deliver cutting-edge trading software tailored to meet the unique needs of institutional investors.
Brett Harrison’s leadership at FTX US from May 2021 to September 2022 was marked by remarkable achievements. He steered the ship through a successful $400-million funding round and announced ambitious plans to establish a stock trading platform. His career trajectory, mirroring those of other luminaries in the field, started at Jane Street Capital.
Charting New Avenues
Harrison’s decision to forge a new path with Architect Financial Technologies came prior to the turbulent events surrounding FTX-linked companies in November of the same year. His candid account of his association with former FTX CEO Sam Bankman-Fried garnered attention when he shared it in an extensive Twitter thread in January.