Behind every major transformation in the financial market are people with vision, experience, and determination to make the impossible possible. A5X was born from the union of four professionals who dedicated their careers to understanding, building, and revolutionizing the Brazilian financial system. With over 100 years of combined experience, A5X’s founders bring not only deep technical knowledge but also the conviction that Brazil deserves an innovative alternative in the derivatives market.
Each founder brings unique and complementary expertise, creating a rare combination of skills ranging from executive leadership and financial structuring to regulatory expertise and market operations. This diversity of experience is crucial to meeting the complex challenges of creating Brazil’s first new derivatives-focused exchange.
Founder, Board Member and CEO
Carlos Ferreira brings over 25 years of experience in the Brazilian financial market to A5X, having been a key figure in the transformation of XP Inc. into one of the largest financial institutions in the country. As a former controlling partner, CEO, and board member of XP, Carlos has experienced firsthand the challenges and opportunities of building and scaling an innovative financial business in Brazil.
His career is marked by his ability to identify market gaps and develop solutions that truly meet investors’ needs. At XP, he led initiatives that revolutionized the client experience in the capital markets, always prioritizing technology, operational efficiency, and transparency—values he now brings to A5X.
As CEO of A5X, Carlos is responsible for translating the strategic vision into practical execution, ensuring that all aspects of the operation are aligned with the mission of improving the experience of Brazilian investors. His leadership is characterized by a focus on results, a constant pursuit of excellence, and a genuine commitment to transforming the Brazilian derivatives market.
Carlos’s experience navigating regulatory issues, building high-performance teams, and developing innovative products is crucial to A5X’s success. He deeply understands both the operational challenges and strategic opportunities of establishing a new exchange in Brazil.
Founder, Board Member and CFO
Karel Luketic complements A5X’s leadership with over 15 years of specialized experience in financial structuring and capital markets operations. As a former senior partner and CEO of XP Inc., Karel developed deep expertise in risk management, corporate finance, and operational optimization.
His contribution to A5X goes far beyond traditional financial management. Karel is responsible for structuring the economic and operational foundations that will enable the new exchange to compete effectively in the Brazilian market. His expertise in feasibility analysis, financial modeling, and risk management is crucial to ensuring A5X has solid foundations for sustainable growth.
During his tenure at XP, Karel was instrumental in several expansion and modernization initiatives, always focusing on process efficiency and creating value for stakeholders. This experience is directly applicable to the challenges of building an exchange infrastructure that is simultaneously innovative and financially robust.
As CFO of A5X, Karel ensures that all strategic decisions are based on rigorous analysis and that the company maintains the highest standards of financial governance. His analytical vision and ability to translate strategy into concrete metrics are essential to the project’s success.
Founder and Board Member
Julian Chediak brings a unique and fundamental perspective to A5X: over 35 years of experience in corporate and capital markets law, combined with in-depth knowledge of the Brazilian regulatory environment. As a partner at Chediak Advogados and former chairman of CETIP’s Self-Regulation Council, Julian is one of the country’s leading authorities on financial regulation.
His academic contributions as a professor of Corporate Law and Capital Markets at PUC-Rio demonstrate not only technical knowledge but also the ability to articulate complex concepts and anticipate regulatory trends. This combination of practical experience and academic insight is invaluable for navigating the complex regulatory environment required to establish a new exchange.
Julian actively participated in the creation of standards and frameworks that modernized the Brazilian capital markets, possessing a unique understanding of how regulation and innovation can work together to benefit the market. His experience in corporate governance and compliance is essential to ensuring that A5X meets the most stringent regulatory standards from its inception.
At A5X, Julian is responsible for ensuring that all regulatory and compliance aspects are in line with national and international best practices. His strategic vision for the future of financial regulation helps the firm position itself for future regulatory changes.
Nilson Monteiro completes the founding team with over 25 years of practical experience in the financial market, serving as CEO and co-founder of the brokerage firm Ideal CTVM. His entrepreneurial trajectory and in-depth operational knowledge bring essential insight into the real needs of Brazilian market participants.
As the leader of Ideal CTVM, Nilson has developed unique expertise in brokerage operations, financial technology, and relationships with diverse investor profiles. His experience building and operating a successful independent brokerage offers valuable insights into the practical challenges of serving clients in a competitive market.
Nilson’s entrepreneurial vision is complemented by his technical knowledge of trading systems, market connectivity, and back-office operations. This combination of business perspective and operational expertise is crucial to ensuring that A5X develops products and services that truly meet market demands.
At A5X, Nilson brings his practical experience in market operations and his deep understanding of the needs of different types of Brazilian market participants. His entrepreneurial perspective and focus on innovation are essential to ensuring that the new exchange offers truly differentiated solutions.
The true strength of A5X’s founders lies in their complementary experiences and skills. Each brings a unique perspective that, when combined, creates a solid foundation for tackling the multiple challenges of establishing a new exchange in Brazil.
Leadership and Strategy: Carlos brings executive experience in market transformation and building scalable businesses.
Financial Structuring: Karel offers expertise in financial modeling, risk management and operational optimization.
Regulatory Knowledge: Julian ensures efficient navigation of the regulatory environment and compliance with best practices.
Operational Experience: Nilson brings practical knowledge of market operations and participant needs.
This diversity of skills allows A5X to simultaneously address the strategic, financial, regulatory, and operational aspects necessary for the project’s success. Most importantly, all the founders share the same vision of the transformative potential of the Brazilian market and a commitment to operational excellence.
Despite their different backgrounds and specialties, the four founders of A5X share a common vision for the future of the Brazilian derivatives market. They all believe that healthy competition, combined with technological innovation and operational transparency, can significantly transform the investor experience in Brazil.
This shared vision arose from observing how competition has driven the evolution of other segments of the Brazilian financial market—banks, brokerages, asset managers, and payment providers—and from the conviction that the same can happen in the stock market.
The founders of A5X are not just creating a new company; they are leading a transformational movement that has the potential to benefit the entire Brazilian financial ecosystem. Their combined experience, complementary skills, and shared vision create the ideal conditions to make this ambitious vision a reality.
A5X’s founders represent a rare combination of proven experience, complementary expertise, and transformative vision. With over 100 years of combined experience in the Brazilian financial market, they bring not only technical expertise but also the determination to tackle the challenges of creating something truly innovative.
Carlos, Karel, Julian, and Nilson are not just founders—they are visionaries who believe in the potential of the Brazilian market and have the experience to turn that vision into reality. A5X is the natural result of their individual trajectories and their shared conviction about the future of the derivatives market in Brazil.
With experienced leadership, solid financial structure, in-depth regulatory knowledge, and practical operational experience, A5X is positioned to lead the transformation of the Brazilian stock market, always focusing on efficiency, transparency, and commitment to investors.
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