> For the complete documentation index, see [llms.txt](https://docs.fortemis.io/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.fortemis.io/readme.md).

# Overview

Fortemis Risk is an institutional market-risk monitoring platform for crypto funds. It connects to a fund's trading venues with **read-only** API keys, builds a live view of the entire book, and produces an auditable, nightly official risk record — Value at Risk, Expected Shortfall, exposure, liquidity, leverage and limit utilisation — measured against the fund's official NAV and its board-approved risk appetite.

Three principles shape everything in the system:

1. **Honesty over convenience.** Data that cannot be verified is labelled stale — never silently carried forward. Placeholder methodologies are disclosed on the face of every report that uses them. A missing input halts a calculation loudly rather than producing a plausible wrong number.
2. **Reproducibility.** Every official risk run records the exact inputs, configuration versions and code commit that produced it, in an immutable manifest. Any run can be re-derived bit-for-bit, and the platform re-verifies its own latest run every night. A failed reproducibility check is treated as an incident, not a bug.
3. **Read-only by construction.** The platform can never trade, move funds or alter the book. Venue keys are verified read-only at entry and at every poll; keys carrying trade or withdrawal permission are rejected on the spot.

The remainder of this handbook explains how the platform is built, where its data comes from, how each risk figure is calculated, and how the governance layer keeps every number defensible in front of an auditor, administrator or regulator.


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