Crypto · Crypto process and review · lesson 2 of 9 · 6 min read · David Alexander
The venue and custody ledger
the exposure ledger
The separate record crypto needs beside the trade journal: counterparty exposure over time - how much sat on which venue, when, against the caps - and the custody moves that changed it. The futures track kept rolls out of setup statistics in their own ledger; crypto keeps counterparty exposure in its own, because it is a risk that accrues while no trade is being made, and the trade journal cannot see it.
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