A5X reorganizes executive structure and brings in new CFO with a view to starting operations in early 2027

A5X, a new Brazilian financial market infrastructure, focusing on derivatives, announced this Thursday the arrival of Dinarte Licks as chief financial officer (CFO), as well as the reorganization of its executive structure, in order to enter into operation at the beginning of next year.

Having worked at XP and Warren, he will be responsible for “leading A5X’s financial agenda, contributing to capital discipline, financial planning and supporting the company in its next stage of growth,” the company said in a press release.

Co-founder Karel Luketic then leaves the position of CFO and takes over as vice-president of A5X, alongside Carlos Ferreira, co-founder and executive president, leading the company. In parallel, Cícero Vieira takes over as director of operations (COO), Paulo D’Angelo will be the director of technology (CTO) and André Monteiro takes on the role of director of governance and corporate risks.

“We are entering a phase in which execution, governance and operational discipline need to be fully integrated,” said Ferreira.

The executive structure also includes Ulysses Maia, as revenue director (CRO), and Daniel Ciotti, as product director (CPO).

A5X also stated that it continues to advance its development, integration and testing schedule, “aiming for operational readiness by the end of 2026 and entry into operation in early 2027”. Previously, it was expected to come into operation from the fourth quarter of 2026.

The company, which has a partnership with the London Stock Exchange Group (LSEG), confirmed to Reuters XP’s entry as a partner, but did not provide details. The shareholder base of investors also includes Itaú, Ideal CTVM, Optiver, XTX Markets, IMC, JUMP Trading Group and ABN AMRO Clearing.

This week, Base Exchange, which is also preparing to act as Brazil’s stock exchange, announced Francisco Gurgel as executive president (CEO), replacing Claudio Pracownik, who will join the group’s board of directors. Gurgel is the founder of Base and Flowa Technologies, the project’s developer.