Promotion · 2026-05-12
Promotion is a decision, not a drift
Authority, a risk budget and a rollback policy travel together as one artefact. Committee enthusiasm is not a substitute.
A candidate that survives validation is put before fixed gates — deflated Sharpe, walk-forward efficiency, drawdown inside mandate, capacity above target. It either clears them or it does not.
What is promoted is more than code. Before its first live order exists, the strategy knows how much it may hold, how much it may lose, and precisely what happens when either boundary is touched.
The 2024 promotion set the precedent. We have not relaxed it.