April 2026
Why most trading systems fail
The signal is rarely the problem. Trading systems fail at the seams — where execution meets settlement, where state meets latency, where risk was treated as a check instead of a layer.
April 2026
Execution is the real problem in crypto
Fragmented liquidity, inconsistent state, and venue failures turn every order into a distributed systems problem. The edge lives in execution architecture, not in models.
April 2026
Risk management is a system, not a feature
A risk check runs once. A risk layer spans the whole system. The difference is the difference between catching a typo and preventing a blowup.
Ignacio Montoya is a systems architect specializing in algorithmic trading infrastructure, financial systems, and digital asset platforms. These essays reflect the architectural reasoning applied in engagement.