A complete analysis of the security lines of defense in financial derivatives transactions! This article provides an in-depth analysis of the compliance review and capital requirements of trading platforms by the world's top financial regulatory agencies (such as FCA and ASIC). It dismantles the independent custody mechanism that completely physically separates customer funds from working capital, and how to rely on large commercial banks to prevent platform misappropriation risks; and details the negative balance protection policy under extreme liquidation conditions, how to break the shadow of liquidation liabilities, and ensure that investors' losses do not exceed their principal.