Exposure limits
Concentration control is a core defense against correlated operational and market stress.
Limits are intended to be explicit, monitored, and documented.
Concentration caps
Single-asset, single-strategy, and single-venue caps reduce reliance on any one market condition or venue relationship.
Collateral controls
Collateral deployment and reuse should remain within defined thresholds and mandate boundaries.
Liquidity awareness
Exposure sizing should reflect redemption terms, market depth, treasury staging, and transfer constraints.