Risk Desk

Every book, every published metric, side by side — the comparison the per-account pages cannot make.

Books live
5
4 through the shared risk desk
Combined equity
$491,761
vs $500,000 staked
Combined capital
$193,026
FRTB SA across 5 of 5 books
As of
2026-09-10
latest session posted
Equity · every book against the $100,000 it started from
$100,000 start maintempofablebluechipjbstrat 2026-06-28 2026-09-10

Plotted against calendar time, not session number, because these books did not start together — main has 33 sessions and the newest has 4. A book with one session draws as a point; a short line means a young book, not a flat one.

The matrix · every published metric, every book
Metricmain2026-09-10tempo2026-09-10fable2026-09-10bluechip2026-09-10jbstrat*2026-09-10
Performance · the race itself
Portfolio value$109,252$101,492$100,236$97,736$83,044
Total return+9.25%+1.49%+0.24%−2.26%−16.96%
Sessions334877
Holdings10991216
Cash negative = margin$10,866$3,828$2,500−$70,400$81,740
Capital · Basel FRTB, standardised approach
Capital requirement$38,393$35,893$40,584$61,195$16,961
As % of equity35.1%35.4%40.5%62.6%20.4%
Market risk · historical simulation
VaR 99% · 1 day$3,024$2,928$5,298$3,774$4,816
As % of equity2.77%2.88%5.29%3.86%5.81%
Expected shortfall 97.5%$3,366$3,171$4,873$4,008$4,696
Attribution · market vs decisions · locked under 20 sessions
Beta vs benchmark0.65
Market component+2.15%
Decision component+7.68%n.s.
Leverage & counterparty · CCR block
Gross leverage0.90×0.96×0.98×1.72×1.34×
Margin debit$0$0$0$70,400$0
Short market value$0$0$0$0$55,086
Settlement in flight T+1$0$0$0$0$111,527
SA-CCR EAD$0$0$0$0$0
Risk per dollar · scaled to the largest book on screen

The same figures as the table, drawn — because these are ratios meant to be compared, and a number only reads as "nearly double" once it is a length.

Capital requirement · % of equity · FRTB SA
main 35.1%
tempo 35.4%
fable 40.5%
bluechip 62.6%
jbstrat* 20.4%
VaR 99% · 1 day · % of equity · historical
main 2.77%
tempo 2.88%
fable 5.29%
bluechip 3.86%
jbstrat* 5.81%
Gross leverage · × equity
main 0.90×
tempo 0.96×
fable 0.98×
bluechip 1.72×
jbstrat* 1.34×
Settlement in flight · unsettled notional · T+1
main $0
tempo $0
fable $0
bluechip $0
jbstrat* $111,527
Not measured · 4 blank cells, and why

A dash above is an absence, never a zero. These are the reasons the agent gave — printed here so a blank cell cannot be read as a book that carries no risk.

BookBlockReason
tempoAttribution9 aligned daily observations, need 20
fableAttribution16 aligned daily observations, need 20
bluechipAttribution16 aligned daily observations, need 20
jbstratAttribution9 aligned daily observations, need 20
Reading this page
Not every book here is a contestant. jbstrat runs outside the shared risk desk — its orders never pass gate.review(), it is the only book holding shorts, and its mandate says in advance that its returns are not comparable to the gated books in either direction. It is marked * everywhere it appears. The rows still line up; the comparison does not.
Risk-adjusted comparison stays locked. Sharpe, max drawdown and performance against the S&P 500 need 20 sessions; only 1 of 5 books clears that. The raw metrics above are published from day one because they describe the book as it is held today — a capital charge is a property of the positions, not an estimate that needs history. A ratio of return to risk is not, and dividing a two-day return by anything would be the flattering mistake.
Overstated capital. tempo (1 name), fable (3 names) could not be classified from reference data and fell to the 70% "other sector" bucket — the regulation's own fail-closed rule. Those charges are safe-direction wrong.
None of this is visible to the agents. Every metric on this page is computed after a session closes, from what the book already holds. No number here reaches a prompt, and the risk desk that gates the orders does not read them.