Operations, post-mortems, market microstructure — written by the people who run the book. No marketing copy. No moonshots.
An operational post-mortem from 9 launches in Q1. The minute-by-minute checklist we run, which signals predict a clean go-live, and which ones you can't fix once trading starts.
The painted-volume era is ending. CEXes, regulators, and CFOs all want the same thing now: a number that ties to a P&L. Here's the math.
What triggered it, what we changed, what the listing manager actually reads. A 47-day timeline, redacted.
When the venue doesn't expose iceberg as a primitive, you build it. Five execution tactics ranked by slippage cost.
After 14 client-CFO interviews, we rebuilt the report from the bottom-left corner up. What stayed, what got cut, what surprised us.
12 pages, distilled. The questions to answer before TGE, the venues to coordinate, the metrics to baseline.
Volatility 4×, retail concentration extreme, comms team in 3 timezones. How we kept the book defensible.
One desk-side memo per month. Microstructure observations, post-mortems, a handful of charts.