Architect Financial Technologies, the startup founded by former FTX US president Brett Harrison, has received approval from the National Futures Association (NFA) for its subsidiary.
Architect Financial Derivatives Has Received Authorization To Operate As An Independent Introducing Broker
Architect Financial Technologies, the startup founded by former FTX US president Brett Harrison, has received approval from the National Futures Association (NFA) for its subsidiary, Architect Financial Derivatives, to operate as an independent introducing broker.
Architect Financial Derivatives will solicit and accept orders for futures contracts, commodities options, retail off-exchange currency transactions, and swaps as an NFA introducing broker. However, because it is essentially a software supplier, it will not handle consumer funds.
Harrison emphasized that the company's primary focus is on developing regulated businesses in the exchange-traded derivatives space, catering not only to crypto derivatives but also to derivatives in general. The Architect trading platform will enable trading in multiple derivatives on exchanges licensed by the Commodity Futures Trading Commission in the United States, with clearing services provided by regulated partners.
Architect was initially funded with $5 million from investors including Coinbase Ventures and Circle Ventures, and it was established to provide trading software for institutional investors.
Brett Harrison was previously the president of FTX US and was instrumental in the company's expansion, including a successful $400 million fundraising round and the announcement of plans to launch a stock trading platform.
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