aion-context 1.0.0

Cryptographically-signed, versioned business-context file format
Documentation 
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# Trading Desk Compliance Rules
# Version: 2.3.1
# Effective: 2024-Q1
# Regulatory References: SOX, Dodd-Frank, MiFID II, SEC Rule 15c3-5

metadata:
  organization: "Apex Capital Management"
  department: "Equities Trading"
  compliance_frameworks:
    - "SOX"
    - "Dodd-Frank"
    - "MiFID II"
    - "SEC"
  last_review: "2024-01-15"
  approved_by: "Chief Compliance Officer"

# Trading Limits
trading_limits:
  per_trader:
    max_single_order_usd: 5_000_000
    max_daily_volume_usd: 50_000_000
    max_position_size_usd: 25_000_000
    max_loss_daily_usd: 500_000
    
  per_desk:
    max_daily_volume_usd: 500_000_000
    max_gross_exposure_usd: 1_000_000_000
    max_net_exposure_usd: 200_000_000
    var_limit_99_usd: 10_000_000

  automatic_actions:
    soft_limit_warning: 0.80  # 80% of limit
    hard_limit_block: 1.00    # 100% blocks trading
    breach_escalation: "risk_manager"

# Pre-Trade Risk Checks
pre_trade_checks:
  enabled: true
  max_latency_ms: 5
  
  validations:
    - name: "fat_finger_check"
      description: "Reject orders >10x average size"
      threshold_multiplier: 10
      
    - name: "price_collar"
      description: "Reject orders outside price bands"
      band_percent: 5
      
    - name: "position_limit"
      description: "Check aggregate position limits"
      
    - name: "restricted_list"
      description: "Block trading in restricted securities"
      
    - name: "market_hours"
      description: "Validate trading within allowed hours"

# Restricted Securities
restricted_list:
  update_frequency: "daily"
  sources:
    - "compliance_team"
    - "legal_department"
    - "research_restricted"
  
  categories:
    insider_trading_blackout:
      duration_days: 14
      applies_to: ["employees", "affiliates"]
    
    research_restricted:
      duration_days: 30
      reason: "pending_research_publication"
    
    regulatory_restricted:
      permanent: true
      reason: "sanctions_or_regulatory_order"

# Order Handling
order_handling:
  best_execution:
    enabled: true
    venues_evaluated_minimum: 3
    documentation_required: true
    
  order_types_allowed:
    - market
    - limit
    - stop_loss
    - iceberg
    - twap
    - vwap
    
  order_types_prohibited:
    - spoofing_patterns
    - layering_patterns

# Audit Trail
audit_trail:
  capture_events:
    - order_submission
    - order_modification
    - order_cancellation
    - execution
    - rejection
    - risk_check_failure
    
  retention_years: 7
  
  required_fields:
    - timestamp_nanoseconds
    - trader_id
    - desk_id
    - security_identifier
    - order_type
    - quantity
    - price
    - side
    - venue
    - decision_rationale

# AI/Algo Trading Constraints
algo_constraints:
  registration_required: true
  testing_required:
    backtest_months: 24
    paper_trading_days: 30
    
  kill_switch:
    enabled: true
    triggers:
      - loss_threshold_usd: 100_000
      - error_rate_percent: 5
      - latency_spike_ms: 100
      
  human_oversight:
    real_time_monitoring: true
    approval_for_new_strategies: true
    daily_review_required: true

# Reporting
reporting:
  internal:
    daily_pnl: true
    risk_metrics: true
    limit_utilization: true
    
  regulatory:
    cat_reporting: true  # Consolidated Audit Trail
    form_13f: "quarterly"
    mifid_transaction_reports: "t+1"

# Segregation of Duties
segregation:
  front_office:
    - trade_execution
    - client_communication
  middle_office:
    - risk_monitoring
    - limit_management
  back_office:
    - settlement
    - reconciliation
  compliance:
    - surveillance
    - reporting
    
  prohibited_combinations:
    - ["trade_execution", "settlement"]
    - ["risk_monitoring", "limit_override"]