Brett Harrison Launches Perpetual Futures Platform
Brett Harrison, former President of FTX US, is launching a new trading platform. His company, Architect Financial Technologies, got approval from the Bermuda Monetary Authority. The platform will operate through its unit, Architect Bermuda Ltd.
The new exchange, named AX, will allow trading of various assets. These include foreign currencies, interest rates, stocks, stock indexes, metals, and energy products.
Harrison said, “The market structure resembles that of modern derivative assets, but it’s for traditional asset classes.” He also plans to add perpetual contracts linked to the AI economy. These will cover rare earth metals, renewable energy, and data center costs.
How Perpetual Futures Work
Perpetual futures, or “perps,” are popular in crypto markets. They let traders make leveraged bets without owning the underlying assets. Perps have no expiration date, allowing continuous trading.
Exchanges like Binance and OKX use perps for fast and leveraged trades. Harrison aims to bring this model to traditional assets. Architect’s exchange will run 24/7 for constant access.
The platform will accept fiat currencies and USD-based stablecoins as collateral. This allows trading even when banks are closed.
Investor Support and Market Outlook
Architect Financial Technologies is currently in a Series A funding round. It has raised $17 million from investors including Coinbase Ventures, Circle Ventures, and Anthony Scaramucci’s SALT Fund.
Harrison has a strong background in finance. He worked at Citadel Securities and Jane Street before joining FTX US. He left FTX US in September 2022, just before its collapse.
Perpetual futures have not yet been approved for trading in the U.S. However, some expect regulatory changes under former President Donald Trump’s deregulatory agenda. Cboe Global Markets also plans to launch Bitcoin and Ether perpetual contracts later this year.
Learn more about AX and Architect Financial Technologies on their Twitter page.
