RISK
Understand the exposure. Inspect the controls.
Capital is at risk. Foreign exchange, digital assets, leverage and derivatives can produce substantial losses. Controls cannot eliminate that risk.
Markets & exposure
Market risk
Prices can move against positions and losses may exceed expectations.
Digital-asset volatility
Digital assets can experience extreme price changes and market disruption.
Foreign-exchange risk
Currency movements affect positions, collateral and translated values.
Leverage and derivatives risk
Leverage magnifies losses; derivatives can add margin and liquidation exposure.
Providers & liquidity
Counterparty risk
A provider or trading counterparty may fail to meet an obligation.
Venue and custody risk
Venue outages, asset loss, insolvency or custody failures can restrict recovery.
Liquidity risk
Exit prices and timing may differ materially from expectations.
Models, systems & valuation
Model risk
Models can fail when assumptions, data or market relationships change.
Technology risk
Software, connectivity and data failures can interrupt operations.
Valuation risk
Prices and valuation inputs may be uncertain or unavailable.
Cybersecurity risk
Compromised accounts, devices or providers can expose data and disrupt service.
Operating environment
Regulatory and tax risk
Rules and tax treatment can change across jurisdictions.
Operational risk
Human errors and failed procedures can affect records and execution.
Control framework
These controls define the intended operating standard. They reduce certain exposures but cannot prevent loss. Sandbox controls are not verified live protection.
- Instrument eligibility
- Position and portfolio limits
- Leverage and counterparty limits
- Price and stale-data checks
- Drawdown escalation
- Automated suspension conditions
- Manual suspension authority
- Venue-health monitoring
- Reconciliation and exception review
- Incident escalation and continuity