Client Profile
A1X Trading Limited is a fast-growth proprietary trading platform operating in digital asset derivatives. As a business working in the cryptocurrency field, A1X sits within a new and evolving FCA regulatory regime, alongside the usual demands of a growing FinTech company: from scaling up their hiring, managing risk and compliance or building the governance framework
The Challenge: Broad legal needs, charity budgets
A1X’s need for legal support first surfaced in 2025, when two separate spikes in workload led the business to approach Obelisk. On each occasion, the roles did not proceed to placement but as the business grew, the underlying need for legal support had not gone away. In March 2026, a further and more sustained spike in workload brought A1X back to Obelisk, this time ready to commit to ongoing support. As a scaling company in a regulated sector, A1X needed a fractional General Counsel who could work across multiple practice areas at once, rather than a narrow specialist. Someone who could embed with the leadership team to provide strategic legal direction and do so quickly.
We’re very happy with Todd’s work. He’s helped us move faster on things like our employee options plan, and it’s reassuring to have that senior legal support in place as we work through more complex changes, such as our share for share exchange.
The Obelisk Approach
Obelisk placed a fractional General Counsel with our legal consultant, Todd, working closely with the CEO and COO from the outset and travelling to the client’s office periodically to build the relationship in person. Rather than a single, narrow brief, Todd’s role covered the full spread of A1X’s legal needs: employment, corporate governance, financial regulation and commercial contracts, allowing the business to draw on senior, GC-level support without the cost of a full-time hire.
hours of legal support
What Happened
Todd began by analysing A1X’s existing legal arrangements across employment, corporate governance, financial regulation and commercial contracts, giving the business a clear picture of where it stood and what needed attention first. Working with the COO, he put in place new arrangements for managing employment law across the business, including up to date policies, onboarding, appraisals and day to day management, and used the rollout as an opportunity to help the company align its culture with best practice, both for legal compliance and for employee attraction and retention.
Working with the CEO, Todd coordinated with external counsel on regulatory advice and transactions, helping A1X navigate the implications of the new FCA cryptocurrency regime. Where external legal counsel was not essential, he brought certain commercial contracts in-house, delivering immediate cost savings. Since the assignment began, Obelisk has delivered more than 80 hours of support to A1X over 4 months.
Everything has gone well with Todd, and it was good to meet him in person too. We’re happy with his work, and it’s been valuable to have that continuity of support through a busy period for the business.
The Legal Reource
Todd Foreman is a fractional General Counsel with a finance background. He was placed with A1X at GC level, reflecting the seniority the role demanded, and has worked as a trusted advisor to both the CEO and COO throughout the assignment, identifying areas where tasks could be automated and costs controlled as the business has grown.
As fractional GC, I analysed the client’s existing legal arrangements across areas such as employment, corporate governance, financial regulation and commercial contracts. Working with the COO, we implemented new arrangements for managing all aspects of employment law, including up to date policies, onboarding, appraisals and day to day management. Implementation of the new policies was also an opportunity to explain their practical impact, and encourage the company to align their culture with best practice both legally and for employee attraction and retention. Working with the CEO, I have worked with external counsel to coordinate regulatory advice and transactions, and navigate the implications of the new FCA cryptocurrency regime. I have achieved immediate cost savings for the client by taking in-house some commercial contracts where external legal counsel is not essential. As a lawyer, the assignment has been deeply satisfying in that I am putting structure in place to proportionately manage legal risk as the client grows and also make day to day management easier. The close working relationship with the CEO and COO as a trusted advisor has been one of the highlights of this assignment, as has identifying areas where tasks can be automated and costs can be controlled.
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