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Resources / Flying Tulip Inc

Engineering onchain financial infrastructure.

Technical guides, reproducible studies, and institutional briefs on the decisions that connect credit, collateral, execution, and settlement.

Original engineering evidence

Hedge unwind: when reducing positions increases margin

A reproducible experiment with 18 closeout cases, 15 price shocks per case, and exact arithmetic. Read the findings, inspect the assumptions, and run the model.

Read the study

Code, data, method

Model source (.mjs)Measured results (.csv)Reproduction instructions

Engineering library

Inside the systems we build.

Architecture, tradeoffs, and failure modes across the prime brokerage stack. Technical resources for product, risk, and engineering teams.

Institutional architecture

From tokenized assets to functioning markets.

Explore the post-issuance liquidity, partner-instance, and settlement architecture behind the institutional work.

Deployment architecture and responsibilities

Cover of Institutional architecture brief

PDF · 12 pages · August 2026

Institutional architecture brief

A 12-page introduction to post-issuance liquidity, collateral, risk and settlement infrastructure for tokenized markets.

  • A proposed liquidity workflow connects approved assets, executable quotes, immediate settlement, issuer redemption and facility reconciliation.
  • Collateral treatment considers realizable depth, settlement time, concentration and custody dependencies alongside reference prices.
  • A staged engagement moves from a scoped diagnostic through controlled validation to a separately approved deployment and operating model.
  • Responsibility boundaries distinguish architecture, contracts and integration support from the client's custody decisions and regulated activities.
Read the brief (PDF)

Discussion architecture. The source PDF preserves its dated market context and illustrative workflow; it does not establish current deployment availability or financial-service provision by FT Inc.

Cover of Partner deployment and instance brief

PDF · 3 pages · 20 August 2026

Partner deployment and instance brief

A three-page architecture proposal for a configurable account and risk layer connecting credit, execution, derivatives and carry settlement.

  • A common account and risk engine can coordinate approved cross-collateral exposures while retaining isolated markets or subaccounts.
  • Proposed RFQ workflows cover target exposure, unwind and liquidation, with explicit execution policy and fallback paths.
  • Partner controls include asset eligibility, concentration limits, solver permissions, fees, governance and loss policy.
  • A carry-settlement extension tracks an immediate advance through issuer redemption to debt repayment and position closure.
  • The proposed first release uses a small collateral set, one settlement asset, limited solvers, hard caps and tested incident procedures.
Read the brief (PDF)

Discussion architecture. The source PDF includes dated product comparisons and proposed modules; enablement depends on scope, review, liquidity and the operating arrangement.

Cover of Liquidity for settlement-lagged assets

PDF · 1 page · 20 July 2026

Liquidity for settlement-lagged assets

A one-page proposed integration showing how a controlled tokenized asset can support an immediate advance while issuer redemption settles later.

  • The proposed advance is based on expected redemption value less financing carry, risk reserves and fees.
  • The asset remains controlled in an isolated position while the issuer follows its normal redemption process.
  • An issuer adapter must register the request, control the asset, route proceeds and close the obligation without duplicate settlement.
  • Eligibility, permissions, chain conditions, available liquidity, risk limits and settlement timing determine the scope of an integration.
Read the brief (PDF)

Proposed integration concept. The source PDF retains dated, illustrative liquidity and rate figures; these are not current capacity, pricing, return or redemption commitments.

These source briefs describe architecture and proposed workflows. Availability, assets, capital, permissions, and operational responsibilities are established for each engagement. Figures in the original PDFs are dated illustrations, not current liquidity or pricing commitments.

Design the system around your mandate.

Bring the assets, markets, and operating constraints. We can help turn them into a software architecture and a defined engineering engagement.

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