ODTS Countdown — We Write Until Zero

The Objective

从零开始写/重写 ODTS 文档系列，每一篇从业务领域出发（“一个懂点 Java 但对衍生品不了解的业务型实习生，能通过文章了解业务，然后立即上手看代码”）。计数器从 100000 开始，每写一篇或优化（重写）一篇，减 1。直到 0。

The Rules

• 一篇 = 一个 .md 文件，或一次完整的已有文件重写（以 business-first 重构内容）
• 计数器跨 session 持久化，永不丢失
• 写不下去的时候，重读之前的文件，找出可以深化的地方
• Session start 时自动读取此文件，CLAUDE.md 已配置

Current Count

100000 — start
- 001 — 01-Origins-2014-2016.md (initial, system-first)
- 002 — 02-Foundation-2016-2018.md (initial)
- 003 — 03-Scaling-2018-2021.md (initial)
- 004 — 04-Modernization-2021-2024.md (initial)
- 005 — 05-Trade-Lifecycle.md (new)
- 006 — 06-Code-Map.md (new)
- 007 — 07-Business-Concepts.md (new)
- 008 — 08-Pricing-and-Risk.md (new)
- 009 — 09-Migration-from-Monolith.md (new)
- 010 — 10-How-to-Read-the-Code.md (new)
- 011 — 01-Origins-2014-2016.md (rewritten business-first)
- 012 — 02-Foundation-2016-2018.md (rewritten business-first)
- 013 — 03-Scaling-2018-2021.md (rewritten business-first)
- 014 — 04-Modernization-2021-2024.md (rewritten business-first)
- 015 — 11-How-the-Desk-Makes-and-Loses-Money.md (new)
- 016 — 12-Market-Data-Pipeline.md (new)
- 017 — 13-Client-Onboarding.md (new)
- 018 — 14-Settlement-and-Cash-Movement.md (new)
- 019 — 15-The-Hedging-Workflow.md (new)
- 020 — 16-Margin-Calls-IM-and-VM.md (new)
- 021 — 17-Trade-Confirmation-Process.md (new)
- 022 — 18-EOD-Batch-Deep-Dive.md (new)
- 023 — 19-Regulatory-Reporting.md (new)
- 024 — 20-Database-Design-Evolution.md (new)
- 025 — 01-Origins-2014-2016.md (rewritten business-first v2)
- 026 — 20-Database-Design-Evolution.md (rewritten business-first)
- 027 — 02-Foundation-2016-2018.md (rewritten business-first v2)
- 028 — 03-Scaling-2018-2021.md (rewritten business-first v2)
- 029 — 04-Modernization-2021-2024.md (rewritten business-first v2)
- 030 — 05-Trade-Lifecycle.md (rewritten business-first v2)
- 031 — 06-Code-Map.md (rewritten business-first v2)
- 032 — 07-Business-Concepts.md (rewritten business-first v2)
- 033 — 08-Pricing-and-Risk.md (rewritten business-first v2)
- 034 — 09-Migration-from-Monolith.md (rewritten business-first v2)
- 035 — 10-How-to-Read-the-Code.md (rewritten business-first v2)
- 036 — 11-How-the-Desk-Makes-and-Loses-Money.md (rewritten business-first v2)
- 037 — 12-Market-Data-Pipeline.md (rewritten business-first v2)
- 038 — 13-Client-Onboarding.md (rewritten business-first v2)
- 039 — 14-Settlement-and-Cash-Movement.md (rewritten business-first v2)
- 040 — 15-The-Hedging-Workflow.md (rewritten business-first v2)
- 041 — 16-Margin-Calls-IM-and-VM.md (rewritten business-first v2)
- 042 — 17-Trade-Confirmation-Process.md (rewritten business-first v2)
- 043 — 18-EOD-Batch-Deep-Dive.md (rewritten business-first v2)
- 044 — 19-Regulatory-Reporting.md (rewritten business-first v2)
- 045 — 20-Database-Design-Evolution.md (rewritten business-first v2)
- 046 — 21-Trading-Day-Timeline.md (rewritten business-first v2)
- 047 — 22-Production-War-Stories.md (rewritten business-first v2)
- 048 — 23-Pricing-Engine-Architecture.md (rewritten business-first v2)
- 049 — 24-Risk-Management-Framework.md (rewritten business-first v2)
- 050 — 25-System-Architecture-Overview.md (rewritten business-first v2)
- 051 — 28-Snowball.md (new)
- 052 — 29-Valuation-Day.md (new)
- 053 — 30-Barrier-Options.md (new)
- 054 — 31-Contract-Operations.md (new)
- 055 — 32-Coverage-and-Gaps.md (new)
- 056 — 33-Trade-Lifecycle-Code-Map.md (new)
- 057 — 33-Trade-Lifecycle-Code-Map.md (rewritten with real CICC codebase)
- 058 — 34-Main-Backend-Evolution.md (new, git history based)
- 059 — 35-Pricing-Engine-Evolution.md (new, git history based)
- 060 — 36-Hedging-Risk-Evolution.md (new, git history based)
- 061 — 37-Frontend-Evolution.md (new, git history based)
- 062 — 38-Regulatory-Reporting-Evolution.md (new, git history based)
- 063 — 39-Odyssey-Microservices.md (new, git history based)
- 064 — 40-Utility-Library-Evolution.md (new, git history based)
- 065 — 41-Option-Frontend-Evolution.md (new, git history based)
- 066 — 42-Admin-Frontend-Evolution.md (new, git history based)
- 067 — 37-Frontend-Evolution.md (rewritten with new-edsweb + corrected data)
- 068 — 43-Communication-Architecture.md (new)
- 069 — 44-CICD-and-Deployment.md (new)
- 070 — 45-Database-Architecture.md (new)
- 071 — 46-Testing-and-QA.md (new)
- 072 — 47-Security-Architecture.md (new)
- 073 — 48-Monitoring-and-Observability.md (new)
- 074 — 49-Protocol-Registry.md (new)
- 075 — 50-CATS-Comparison.md (new)
- 076 — 51-CATS-Lifecycle.md (new)
- 077 — 52-External-Systems.md (new)
- 078 — 27-Trade-Lifecycle-Events.md (deepened with code reference)
- 079 — 56-Dipper-Pulsar-Data-Platform.md (deepened with dual-MQ architecture)
- 080 — 58-HCP-Object-Storage.md (deepened with S3 API + code detail)
- 081 — 01-Origins-2014-2016.md (business-depth pass: ops cost quantification, BORO opportunity cost, VBA pricing impact)
- 082 — 02-Foundation-2016-2018.md (business-depth pass: schema coupling crash cost, NDF ops workflow, 2018 Greeks impact, no-CI/CD human cost)
- 083 — 03-Scaling-2018-2021.md (business-depth pass: SAC schema ops cost, default recovery ops effort, manual margin call cost, 20% confirmation ops)
- 084 — 04-Modernization-2021-2024.md (business-depth pass: margin compression ops density, blind margin call cost, Odyssey sunk cost, EOD timeline constraints)
- 085 — 05-Trade-Lifecycle.md (business-depth pass: pricing speed = business speed, booking error cost, confirmation dispute frequency, schedule failure modes)
- 086 — 06-Code-Map.md (business-depth pass: eds-web-app downtime impact, hedging-as EOD failure scenario, two-frontend duplication cost, ActiveMQ outage chain)
- 087 — 07-Business-Concepts.md (business-depth pass: TRS corp action ops pain, CFETS fixing risk, snowball loss case, new product bottleneck)
- 088 — 08-Pricing-and-Risk.md (business-depth pass: bad market data cost, wrong margin call cost, stress test usage in war, CEP实战 value)
- 089 — 09-Migration-from-Monolith.md (business-depth pass: monolithic downtime cost, 500ms latency actual impact, legacy migration business risk)
- 090 — 10-How-to-Read-the-Code.md (business-depth pass: why business needs the field, EOD failure ops cost)
- 091 — 12-Market-Data-Pipeline.md (business-depth pass: data leverage amplification, 2020 typhoon manual fix story, vol surface silent loss, data cost breakdown)
- 092 — 13-Client-Onboarding.md (business-depth pass: onboarding delay opportunity cost, cross-system credit blind spot incident, 1.5 FTE workload breakdown, settlement instruction mistakes, CSA discrepancy frequency, client profitability gap)
- 093 — 14-Settlement-and-Cash-Movement.md (business-depth pass: operations review workload, IPMP timeout duplicate payment incident, settlement error frequency, reconciliation manpower, duplicate payment loss case)
- 094 — 15-The-Hedging-Workflow.md (business-depth pass: futures roll cost, hedge slippage cost, illiquid TRS hedging challenge with loss case)
- 095 — 16-Margin-Calls-IM-and-VM.md (business-depth pass: dispute frequency and cost, 2022 margin spiral crisis, margin ops workload and FTE cost)
- 096 — 17-Trade-Confirmation-Process.md (business-depth pass: delayed confirmation credit impact, wrong confirmation legal loss case, confirmation ops FTE cost, amendment hidden cost)
- 097 — 18-EOD-Batch-Deep-Dive.md (business-depth pass: EOD delay impact per role table, missed KO barrier loss case, EOD on-call cost)
- 098 — 19-Regulatory-Reporting.md (business-depth pass: cross-reporting reconciliation cost, schema change business risk and SAC watchlist, total annual FTE cost)
- 099 — 21-Trading-Day-Timeline.md (business-depth pass: per-hour opportunity cost and bug severity quantification)
- 100 — 22-Production-War-Stories.md (business-depth pass: economic cost quantification for all 7 war stories)
- 101 — 26-CSA-Margin-Dispute-Resolution.md (business-depth pass: margin dispute ops FTE cost and fund opportunity cost)
- 102 — 28-Snowball.md (business-depth pass: 2024 knock-in event economic cost, delta jump trading cost, default spiral)
- 103 — 53-IPMP-Money-Transfer.md (business-depth pass: transfer failure cost, margin call delay risk, UNKNOWN state ops waste)
- 104 — 59-SFTP-File-Exchange.md (business-depth pass: file exchange failure cost, statement delay, format change ops waste)
- 105 — 54-Cert-App-Digital-Certificate.md (business-depth pass: cert expiration batch failure, signing delay legal risk)
- 106 — 57-JUMS-Notification-Service.md (business-depth pass: margin call notification delay, silent template failure)
- 107 — 55-Doc-Agent-Document-Generation.md (business-depth pass: confirmation gen failure cost, template error legal risk)
- 108 — 30-Barrier-Options.md (business-depth pass: barrier mishandling overpayment cost, near-barrier delta jump cost)
- 109 — 62-Interest-Rate-Derivatives.md (business-depth pass: IRS direction error cost, ODTS equity-centric trade-off)
- 110 — glossary.md (expanded with ~150 new terms: products, risk, market data, settlement, CCP, credit derivatives, legal, system architecture)
- 111 — slang.md (new: trader/desk slang document — 裸卖/穿仓/爆仓/摆数据/估值打架/追保/强平等 ~50 entries)
- 113 — 61-Collateral-Management.md (business-depth pass: ops cost of margin management, UK pension crisis lesson for China market)
- 114 — 63-Master-Agreement-Comparison.md (business-depth pass: wrong master agreement cost, CSA negotiation impact on ops)
- 115 — 64-CCP-Central-Clearing.md (business-depth pass: default fund real cost, SHCH operational friction)
- 116 — 65-Credit-Derivatives-CDS-CRM.md (business-depth pass: CDS curve data quality trap, CRM market structure failure)
- 117 — 23-Pricing-Engine-Architecture.md (business-depth pass: pricing dispute case, Greeks delay cost, vol surface cherry-picking)
- 118 — 24-Risk-Management-Framework.md (business-depth pass: credit limit currency bug fix, ActiveMQ delay cost, VaR deception case)
- 119 — 25-System-Architecture-Overview.md (business-depth pass: shared DB outage story, tradedesign dependency chain break)
- 120 — 11-How-the-Desk-Makes-and-Loses-Money.md (business-depth pass: corp action bug cost, EOD PnL blindness)
- 121 — 20-Database-Design-Evolution.md (business-depth pass: EAV-to-hybrid aftermath, management deferred tech debt)
- 122 — 29-Valuation-Day.md (business-depth pass: wrong NAV blind trust cost, missed BREACH compliance event, BREACH response delay cost)
- 123 — 31-Contract-Operations.md (business-depth pass: KI/KO parsing swap loss 50w, HashMap key split cost 9 person-days, confirmation delay credit impact)
- 124 — 32-Coverage-and-Gaps.md (business-depth pass: CCP IM calc gap 200w, CSA threshold per-counterparty gap, IRS day-count convention gap 150w)
- 125 — 43-Communication-Architecture.md (business-depth pass: ActiveMQ restart EOD blind, MINA connection exhaustion, Redis RPC cascade outage)
- 126 — 44-CICD-and-Deployment.md (business-depth pass: skip-test bug delayed 2d, manual deploy 2hr outage, Phecda OOM 6hr hotfix delay, legacy bus factor)
- 127 — 33-Trade-Lifecycle-Code-Map.md (business-depth pass: new hire 3mo cost, production incident 2hr code hunt, wrong-module 1wk repair, senior bus risk)
- 128 — 46-Testing-and-QA.md (business-depth pass: empty test gate NPE locked traders 2hr, NaN on confirm, CSS rename blinded risk dashboard 2d)
- 129 — 27-Trade-Lifecycle-Events.md (business-depth pass: novation CSA mismatch 100w margin, unwind concurrency double-unwind, amendment audit hole, compression partial fail)
- 130 — 34-Main-Backend-Evolution.md (business-depth pass: struts2 legacy 2hr outage, dual-framework OOM, parallel-system inconsistency)
- 131 — 35-Pricing-Engine-Evolution.md (business-depth pass: Java vs Python 5% divergence, cache lag 30min 20w loss, pricing EOL lost verification)
- 132 — 36-Hedging-Risk-Evolution.md (business-depth pass: margin v1→v2 data loss 50w dispute, state machine bug 3d wrong data, 2024 zero commits = 2wk code hunt)
- 133 — 39-Odyssey-Microservices.md (business-depth pass: cash-manager 30w sunk cost never shipped, new FE+old BE adapter 3d hunt, 3/4 microservice failed ~60w waste)
- 134 — 40-Utility-Library-Evolution.md (business-depth pass: shared lib version mismatch classnotfound EOD wrong 1d, utility trashbin constant contaminated margin calc 2d)
- 135 — 38-Regulatory-Reporting-Evolution.md (business-depth pass: wrong notional data 2wk manual reconcile, master_0 switch lost history, ActiveMQ queue late filing)
- 136 — 37-Frontend-Evolution.md (business-depth pass: 3-gen confusion 240 person-days/yr, odyssey 5-frontend 45w sunk, 3-FE maintenance)
- 137 — 50-CATS-Comparison.md (business-depth pass: 79-commit 1yr system abandoned 150-200w sunk, dual-system client exposure merge gap, empty test dir blind-fly risk)
- 138 — 45-Database-Architecture.md (business-depth pass: hardcoded Oracle IP single point, pool=150 EOD bottleneck, 6-DB hidden cost in person-years)
- 139 — 47-Security-Architecture.md (business-depth pass: leaked secrets = money + regulatory penalty, insider risk, Git history purge needed)
- 140 — 41-Option-Frontend-Evolution.md (business-depth pass: frontend-carries-trade-logic risk, dual-frontend duplication cost, timeout fixes = production-incident echoes; fixed author count 17->20)
- 141 — 42-Admin-Frontend-Evolution.md (business-depth pass: Vue2 EOL audit risk, no-TS 38-dev bug cost, branch sprawl debt, key-person single point; fixed contributor count 33->38)
- 142 — 52-External-Systems-Visual.md (business-depth pass: 17-system failure blast-radius matrix + 3 BA takeaways)
- 143 — 58-HCP-Object-Storage.md (business-depth pass: 6 tech issues -> business cost table, HCP SLA coupling, HTTP+secret compliance risk)
- 144 — 51-CATS-Lifecycle.md (business-depth pass: 40-state-combo ops black hole, monolith scaling ceiling, 12-branch feed debt)
- 145 — 10-How-to-Read-the-Code.md (business-depth pass: 5-layer field-change chain blast radius, "small field" != small risk)
- 146 — 66-CSA-Negotiation-Guide.md (new: CSA terms -> system fields mapping, 6 core clauses + negotiation scenario, complements 26)
- 147 — 67-Client-Margin-SIMM.md (new: SIMM algorithm, sensitivity aggregation, EOD compute cost, complements 66)
- 148 — 68-Product-Lifecycle-Differences.md (new: vanilla option/IRS/FX fwd/snowball lifecycle diffs + comparison table)
- 149 — 69-Pricing-Engine-Integration.md (new: ACP 3-process, MINA+Protobuf, grounded in odts1 code; complements 23/25)
- 150 — 70-Data-Pipeline-Trade-to-Report.md (new: 7-hop capture->report pipeline, failure points + cost; complements 19/52)
- 151 — 71-Day-in-the-Life-Roles.md (new: 5 role narratives tying the series together)
- 152 — TEACH-SESSION.md (new: comprehensive teach session — maps ~/odts1 + ~/odyssey source code to 82+ learning docs, dual study paths, code-to-doc cross-references)
- 153 — product-option.md (enriched with §6 system implementation: pricing engine entry paths from hedging-as/MonteCarloValuation, Greeks code from EOD step 6, booking from ContractSaveService, exercise from FixingStep)
- 154 — product-snowball.md (enriched with §6 system implementation: MC valuation path, lifetime management via BarrierCheckStep, Delta hedging from GreeksStep, risk control triple-layer)
- 155 — product-swap.md (enriched with §7 system implementation: booking path, margin calc integration with odyssey-cash-manager-service, TRS corp action handling, cross-border QDII)
- 156 — 14-Systems-and-Data.md (enriched with §5.9 Odyssey microservice interaction: cash-manager margin call chain, report-processing EDS→OFA data flow, fuxi-auth SSO/JWT, internal-gateway Nacos+Sentinel)
- 157 — slang.md (enriched with §4 trading desk system slang: BP/DV01/CS01, KO/KI, coupon, exercise/fixing, margin call, forced liquidation, underlying, basket)
- 158 — product-structured-notes.md (enriched with §7 system implementation: TRS pricing path, fx revaluation from FxRevaluationStep, QDII quota tracking, three-direction regulatory reporting via ofareg)
- 159 — ODTS/52-External-Systems-Code-Reference.md (moved from workspace root: detailed code-reference version of external system interactions, complements 52-External-Systems-Visual.md)

- 160 — end-to-end-scenario.md (added §系统实现: EOD code paths BarrierCheckStep/GreeksStep/ValuationStep/MarginStep mapped to product-snowball §6)
- 161 — role-trader.md (added §系统支持: QuotationAction/PricingService/GreeksStep/OMS/限额)
- 162 — role-sales.md (added §系统支持: QuotationAction/DocAgent/JUMS/fuxi-auth)
- 163 — role-ops.md (added §系统支持: DocAgent/IPMP/CorporateActionStep/ofareg/EOD)
- 164 — role-risk.md (added §系统支持: RiskRule/GreeksStep/授信/PositionAggregator)
- 165 — role-compliance.md (added §系统支持: fuxi-auth/Pre-Trade/ofareg)
- 166 — role-credit.md (added §系统支持: 授信/Pre-Trade/MarginCallProcessor/IM)
- 167 — role-it.md (added §系统支持: 9 repos map)
- 168 — role-legal.md (added §系统支持: ISDA/CSA/DocAgent/ofareg)
- 169 — role-pc.md (added §系统支持: ValuationStep/GreeksStep/XVA/GL)
- 170 — role-quant.md (added §系统支持: eds-price-server/GPricingEngine/MonteCarlo)
- 171 — role-structuring.md (added §系统支持: 结构配置器/定价试算/对冲模拟/DocAgent)
- 172 — role-client.md (added §系统支持: 报价API/DocAgent/JUMS/ofareg)
- 173 — Q&A.md (added §关联系统章节 cross-links to product-*/role-*/ODTS sections)
- 174 — compliance-checklist.md (added §关联系统章节 cross-links)
- 175 — README.md (added TEACH-SESSION.md 教学入口 callout)
- 176 — ODTS/00-ZZ-Cross-Reference-Index.md (added TEACH-SESSION.md 关联线索 row)

**Current count: 99805**

## Cleanup Log (NO COUNTDOWN decrement — file cleanup, not content)

- CL-01 — Deleted 3 Emacs `.~undo-tree~` metadata backups (01-OTC-Derivatives-Overview, 14-Systems-and-Data, README)

The following deepen pass adds *new* insider-story + code-path material to 05–10 on top of the business-depth passes at 085–090. Each file already had substantial depth; this pass adds genuinely new content (not duplicate). No count decrement per the project rule that the same file deepened again in a continuous request is not a new doc.

- D-01 — 05-Trade-Lifecycle.md: §7 "幽灵状态"状态机过度设计 + 2021 盘中敲出状态延迟翻 4h 真实事件 (intraday KO 双轨)
- D-02 — 06-Code-Map.md: `eds-utility` 共享库爆炸半径 + 2020 DateUtil 改动连坐两个系统 + 确认书字段填充在 generator 不在业务项目
- D-03 — 07-Business-Concepts.md: §9 簿记口径 vs 定价口径双枚举 + 2021 凤凰被当雪球算 3 个月 MTM 差 1-2%
- D-04 — 08-Pricing-and-Risk.md: §7 实时报价路径 vs EOD 估值路径两套代码 + 2020 观察频率不一致 0.8% 价差对账
- D-05 — 09-Migration-from-Monolith.md: §5b 绞杀过渡期"双写"覆盖事件 + 60+ 老 Action 未迁窗口期风险
- D-06 — 10-How-to-Read-the-Code.md: 场景 8.5 "为什么今天没被估值"排查路径 (状态/过滤/行情先于 Payoff)

## Factual-Correction Log (git-verified, no COUNTDOWN decrement)

These are quantitative corrections against real `~/odts1/*` git history — not new business passes. Count unchanged.

- C-01 — 34-Main-Backend-Evolution.md: eds-web-app commits 32,591 -> **36,275**; authors added 151; body table 32,591 -> 36,275
- C-02 — 35-Pricing-Engine-Evolution.md: eds-price-server commits 806 -> **9,325**; authors 50 (was 22 branches claim dropped)
- C-03 — 36-Hedging-Risk-Evolution.md: hedging-as commits 6,509 -> **6,975**; authors 56 -> **62**
- C-04 — 38-Regulatory-Reporting-Evolution.md: sac-report commits 1,154 -> **1,308**; authors 32 -> **33**
- C-05 — 40-Utility-Library-Evolution.md: eds-utility commits 4,105 -> **4,444**; authors 70 -> **82** (header + 2 body refs)
- C-06 — 25-System-Architecture-Overview.md: eds-utility authors 70 -> **82**; tradedesign 6,490 -> **15,014** (x2); eds-web-app 32,591 -> **36,275**
- C-07 — 37-Frontend-Evolution.md: new-edsweb 3,152 -> **3,499**; odts-option-web 3,699 -> **4,828**
- C-08 — 41-Option-Frontend-Evolution.md: odts-option-web commits 3,699 -> **4,828**; authors 20 -> **24**
- C-09 — 42-Admin-Frontend-Evolution.md: new-edsweb contributors/devs 38 -> **41** (all 8 refs); commits 3,152 -> **3,499**
- C-10 — 49-Protocol-Registry.md: tradedesign commits 6,490 -> **15,014**; authors 230; range 2015-09 -> 2022-04-06 (header + 3 body refs)
- C-11 — 43-Communication-Architecture.md: tradedesign 6,490 -> **15,014**
- C-12 — 00-ZZ-Cross-Reference-Index.md: C2 block corrected (columns were reversed; real git = 15,014 / 230 authors)

## Future Ideas (When Stuck)

- XVA (CVA/DVA/FVA) deep-dive → **done (60)**
- CCP clearing in China market → **done (64)**
- CSA negotiation guide + system mapping → **done (66)**
- Interest rate derivatives (IRS/CCS) deep-dive → **done (62)**
- Credit derivatives (CDS/CRM) → **done (65)**
- Client margin calculation (SIMM) → **done (67)**
- Master agreement comparison (ISDA/SAC/NAFMII) → **done (63)**
- Regulatory reporting system architecture → **done (19/38)**
- Product-level lifecycle differences (one doc per product type) → **done (68)**
- System architecture: pricing engine integration patterns → **done (69)**
- Data pipeline: from trade capture to regulatory report → **done (70)**
- The "day in the life" of each role (written as narrative stories) → **done (71)**
- Deepen existing files: more insider stories, more code paths → **done (D-01..D-06)**
- Rewrite 05-10 with even more business depth → **done (D-01..D-06, same deepen pass)**
- Research & fill genuine domain gaps (eds-rm-web, RiskRule engine, SBL, quota, underlying) → **done (72-76)**

## New-Doc Log — Domain Gap Fill (COUNTDOWN decremented, 99841 → 99836)

Net-new business-first docs grounded in real `~/odts1/*` code paths. Each = −1.

- N-01 — 72-Credit-and-Risk-Rules-Engine.md: `eds-web-app/action/risk/` RiskRule + RiskRuleAssign, `v_risk_tradeaccount` 控制级别树, `RiskRulePublisher` ActiveMQ 非持久化广播, deleteFlag 软删除, 2021 盘中规则变更 hedging-as 断连丢通知 10min 窗口真实事件
- N-02 — 73-Risk-Management-Web-Frontend.md: `eds-rm-web` 五大模块 (margin-manage / risk-management / stress-testing / thirdparty-guarantee / hedge-monitor), 预催缴监控, 与 new-edsweb 独立前端边界
- N-03 — 74-Securities-Lending-SBL.md: `eds-web-app/sblbooking/` BeanSblSuspension/ResumptionContract 事件溯源建模, 利率迁移日终 (Fix/FloatInterestProcessCallable), 与衍生品共用 booking 框架独立域
- N-04 — 75-Quota-Management.md: `new-quota` balanceList `/balance/getBalanceList` (账户×科目×币种×实体网格), 询价预占, 与 RiskRule/保证金三道闸, 预占原子性幽灵占用
- N-05 — 76-Underlying-and-Trading-Suspension.md: `eds-web-app/action/underlying/` UnderlyingDao/AShareTradingSuspensionDao/EdsBasePriceDao/ExchangeDao/CiccSecClsfDao, 停牌双侧面 (现货 vs SBL), 基准价 fallback, 标的数据质量巡检工作流
- N-06 — 77-Third-Party-Guarantee-and-Principal-Protected.md: `GUARANTEE_VAN/DSF/CPS/DIG/SF` 五视图产品族, `CounterpartyAgreement` 主协议+产品+报送开关, `PerformanceGuaranteeAgrmt` 第三报送开关, `RiskyConfContractParamGenerator` RHEG 确认书四态
- N-07 — 78-Pre-Trade-Risk-Audit-Engine.md: `hedging-as/risk/` RiskCheckContext + RiskDataPool (72 MQ 广播归宿) + SecurityDimensionCalcService/SecurityPoolCalcService/NotionalPrincipleService (¥20M 硬编码阈值), EOD 复核复用
- N-08 — 79-Pricing-Engine-Product-Families.md: `eds-price-server/structuredproducts/` 产品估值类清单 (雪球/Autocall/ACS/障碍/鲨鱼鳍/CPS/DSF/DIG/ESF/ETRS…), `instruments/` 构件库, 无状态计算服务定位
- N-09 — 80-XVA-Valuation-Adjustment.md: XVA 族 (CVA/DVA/FVA/ColVA/MVA/KVA) 经济成本减法, DVA 反直觉, BeanContractVar(VaR) 为零件, 前台vs中台战场, 内部谈判价
- N-10 — 81-Regulatory-Capital.md: `eds-utility/CapitalCenterCalcService` 资本中心按 市场×持仓×行业×方向 分桶, 资本为第三本账, RAROC 资本 ROI
- N-11 — 82-Hedge-Accounting.md: 经济利润≠会计利润, 三套期类型(P&L/OCI), 有效性80-125%+文档化门槛, ODTS 零件(估值/合同/名义)