Open-finance systems increasingly compose portfolio models, data services, and execution interfaces supplied by different parties. This modularity is useful only if the executed wealth path can be checked independently of the model that proposed it. We study a running-peak drawdown limit under proportional transaction...
E. Benhamou, J. Ohana, B. Guez et al.· Proceedings of the Internati...· 0 citations
Adaptive research systems can generate, discard, revise, and monitor trading rules faster than their selection history can be audited. We ask when such a system may promote a frozen rule to governed forward evaluation. The proposed protocol assigns each candidate a predictable, nonrefundable share of one lifetime testi...
E. Benhamou, J. Ohana, B. Guez et al.· Proceedings of the Internati...· 0 citations
Open-finance platforms can combine models from different vendors while still concentrating capital in the same trade. Shared data, objectives, and representations make decision diversity the relevant object, rather than diversity of model names. We call loading on a shared direction a signal collision. A linear-impact...
E. Benhamou, J. Ohana, B. Guez et al.· Proceedings of the Internati...· 0 citations
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