Former FTX US President to Build New Trading Hub Focused on Perps

Core Insights - Brett Harrison has launched AX, a new exchange focused on perpetual futures for non-crypto assets, marking his return to the crypto and trading space after the FTX collapse [1][5] Group 1: Company Overview - AX is developed by Architect Financial Technologies and offers perpetual contracts on various asset classes including foreign currencies, single stocks, ETFs, interest rates, metals, and energy [2] - The exchange is based in Bermuda and operates under the regulatory framework of the Monetary Authority's Investment Business and Digital Asset Business Acts, emphasizing security and transparency [2] - AX utilizes technology from Connamara Technologies for matching trades and allows portfolio margining across different asset classes [2] Group 2: Features and Target Audience - The platform combines the capital efficiency and operational simplicity of crypto perpetual contracts, supporting USD and stablecoin collaterals [3] - AX is primarily open to institutional clients such as hedge funds and market makers, with a waitlist established for individual traders [3] - The development of AX involved a year-long collaboration with regulators and partners to ensure compliance and functionality [3] Group 3: Market Context - Architect Financial Technologies is raising Series A funding from notable investors including Coinbase Ventures and Circle Ventures [4] - The launch of AX follows the emergence of other trading platforms like Hyperliguid and Aster, which are also focused on perpetual contracts [4] - Recent developments in the trading platform landscape include Galaxy's launch of a crypto trading platform aimed at competing with Robinhood [4]