Risk management
The controls that sit around every euro of capital deployed by the programme — and the risks that remain.
Position sizing
Every strategy is capped by a Value-at-Risk (VaR) budget derived from the allocation tier. No single position can exceed the strategy's share of that budget.
Drawdown stops
Automated stops close positions when strategy-level drawdown breaches a pre-set threshold. Recovery is required before the same strategy is redeployed at full size.
Hedging & neutrality
Where possible, strategies are structured delta-neutral (e.g. spot vs. perpetual futures basis) to isolate the yield source from directional price movement.
Venue & counterparty limits
Capital is spread across multiple regulated exchanges, prime brokers, and custodians. Hard concentration limits apply to each venue and to each trading counterparty.
Monitoring
A combination of automated alerting and a human trading desk covers positions 24/7. Escalation runbooks define who acts on what within minutes, not hours.
What we cannot eliminate
Market shocks, exchange failures, regulatory action, custody failure, and human error all remain possible. This is why the programme is presented as speculative and not as a deposit product.
Frequently asked questions
- What is the maximum drawdown ever recorded?
- Historical peak-to-trough drawdown is disclosed on the Performance page and updated monthly. Future drawdowns may exceed historical values.
- How is counterparty risk handled?
- Trading is spread across multiple regulated venues and offset with independent custody. No single venue holds more than the pre-defined concentration limit.
- Are positions leveraged?
- Some strategies use futures with modest leverage to run delta-neutral basis trades. Directional leverage is capped by tier-specific risk budgets.