Foundation

Shared under NDA. These documents may be passed on only with the author's consent. And only under an NDA of equal scope.

1. 01 · The designTarget Architecture

   Why the architecture is shaped this way, how each layer works, and what must be true for it to hold. Version 2, 7 September 2026.

2. 02 · Where we standLegal Position

   What remains after the design, how much, and the guardrails we keep. Version 2, 7 September 2026.

3. 03 · The researchAuthority Register P8 (download, 1.5 MB)

   The brokers' own contracts, sixteen comparable products traced through the enforcement record, and the standing question. 7 September 2026. P7 (5 September), which it builds on, is linked from the Legal Position.

After the design and the research, three questions remain. The first two only a regulator or a court can answer. The third is answered broker by broker, in each broker's own terms. Everything above is built to give the best possible answer to each. None of it settles them.

1. Adviser characterization. Is a signal that a rule the member wrote was met on a specific security, sent to a member who asked to be told, advice for compensation? The Commission has treated a customer-configured alert on his own watch list as outside recommendations; no authority has yet distinguished a rule the member wrote from one he adopted.
2. Broker characterization. Is software that composes an order from the member's own policy and transmits it under the member's own key, on the member's own instruction, "effecting transactions for the account of others"? The closest relief rested on a bundle of conditions we only partly share. Whose order it is, the brokers have answered: the member's.
3. Permission. May this software connect to the member's broker at all? Each broker gates that on its own terms, on grounds no consent design reaches: who wrote the software, whether the broker approved it, whether the vendor is registered. It is settled per broker, before an adapter ships, and a broker's yes says nothing about legal status.