Karel Luketic is Co-Founder, Board Member, and CFO at A5X, a Brazilian derivatives and futures exchange set to launch in 2026. He brings over 15 years of specialized experience in financial structuring and capital markets operations.

Karel was a former senior partner and CEO at XP Inc., where he led expansion and modernization initiatives. He previously worked as Chief Strategist at XP Investimentos and as a Research Analyst at Merrill Lynch from 2008 to 2018.

Karel developed deep expertise in risk management, corporate finance, and operational optimization during his tenure at XP. He is responsible for structuring the economic and operational foundations that enable A5X to compete effectively in the Brazilian market.

A5X has raised 385 million reais (72.6 million USD) across three funding rounds from investors including Optiver, IMC Trading, Jump Trading, XTX Markets, and ABN Amro Clearing. The exchange has partnered with the London Stock Exchange Group for trading and clearing technology.

A5X aims to break Brazil's decade-long exchange monopoly by offering more competitive pricing and innovation in derivatives markets. Karel expects the exchange to reach break-even within 6 to 12 months of its mid-2026 launch.