The platform

Njord’s platform is a local-first, event-driven trading system for digital-asset markets. It is built and operated by Njord for Njord’s own capital. It is not offered to anyone else and it is not finished. As of 2026-09-21 nothing has traded; every figure Njord holds comes from replayed data and paper fills.

One trading path

Backtest, replay, paper and live trading run the same strategy manager, the same risk engine and the same order management. Only three things differ between them: where the market data comes from, what the clock is, and which venue adapter receives the order. A strategy that behaves one way in a backtest and another way live is a defect, not a surprise.

The store is the truth

Every order, fill, position and decision is written to a durable store before anything downstream is told about it. Journals, metrics and reports are derived from the store, never the other way round. A process can be killed at any moment and restarted without losing an order or inventing a position.

Fail-closed

Unknown state halts trading. There is no configuration field, flag or environment variable that disables a risk check; a test in the codebase fails if one is ever added. The kill switch fails closed on error. Live trading is not a setting: it requires a recorded arming, with an actor, a reason and an expiry, and each strategy must be deployed under the exact parameters and limits it was approved with.

A strategy cannot move money

A strategy is never handed a broker, an exchange client or an account. It receives typed events and returns intents. Every intent is decided by the risk engine before it becomes an order. Every new capability given to strategies is expressed the same way: as something returned and judged, never as a method that acts.

Exact numbers

Money and quantity are exact decimals, never floating point. Every order conforms to the instrument’s precision, step and minimum before it leaves the system, and one module is the sole authority on that rounding.

Honest research

Research is done without lookahead, with realistic costs, with holdout data that is not touched until the end, and with awareness that testing many ideas produces false winners. Experiments record their provenance so a result can be reproduced from the same inputs.

Where it stands

The platform is in development. The order path, the risk engine and the strategy interface exist and are tested. The market-data and research layers are being rebuilt to the same standard. Njord does not describe any part of this as operational until it has run against real markets, and it has not.