Brett Harrison, the president of FTX US founded Architect Financial Technologies in January with a focus on serving institutional investors in both cryptocurrency and traditional derivatives. This startup recently received approval from the National Futures Association (NFA) for its Architect Financial Derivatives division to operate as an introducing broker targeting both the crypto derivatives market and traditional markets.
Introducing brokers, who’re members of the NFA handle orders for futures contracts, commodity options, retail off exchange forex contracts or swaps. They do not directly charge customers for these services. Architects primary offering revolves around its software.
During an interview with Bloomberg Markets Harrison highlighted his vision for the company:
“Our main goal is to expand in regulated exchange traded derivatives sectors that encompass not crypto derivatives but also various types of derivatives.”
Architects trading software will cater to derivatives trading on exchanges regulated by the US Commodity Futures Trading Commission. Will collaborate with regulated clearing entities. The platform will also provide clients access to over 20 internationally regulated exchanges.
With an investment of $5 million from notable backers such, as Coinbase Ventures and Circle Ventures Harrison aimed to develop trading software tailored specifically for institutional clients.
From May 2021 to September 2022 Harrison was in charge of FTX US. He left before the crypto exchange faced bankruptcy in November, which also had an impact on affiliated FTX companies. In January there was a discussion on Twitter (now known as X) regarding his previous connection with ex FTX CEO Sam Bankman Fried.
During his time leading FTX US in Chicago they managed to secure $400 million, in funding and announced plans to launch a stock trading platform. Like Bankman Fried and several former FTX executives Harrisons professional journey began at Jane Street Capital.