Learn/A2A Risk Economy
NH1 — Agent-to-Agent Protocol

The Agent-to-Agent Risk Economy

Your AI agents find risk offsets bilaterally with counterparty agents — no broker, no central matching, no manual RFQ. Every negotiation is under your mandate. You can stop it in one click.

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What is this?

Most hedge negotiation starts with a human — a call to a broker, an RFQ email, a Bloomberg chat. A2A removes that step. Your AI agent reads your open risk positions, identifies offsets in the network, proposes an IOI bilaterally to the counterparty's agent, and negotiates price and terms — all before a human ever touches it. When the agents agree, your mandate gate checks the deal against your standing policy. If it fits, the deal goes through. If not, it escalates to you with a summary.

How it works

1

Your agent discovers an offset

The agent reads your open risk positions, scans the A2A network for counterparties with complementary exposure, and sends a bilateral IOI — an indication of interest — directly to their agent.

2

Agents negotiate bilaterally

The two agents exchange price and terms using the A2A protocol: propose → counter → accept or reject. No human involved. No central matching. Just two agents working toward a deal that reduces both parties' risk.

3

Your mandate gate approves — or escalates

When agents reach agreement, your mandate checks the deal against your policy. If it fits (notional under cap, tenor in range, counterparty approved), the deal goes through. If not, it escalates to your inbox with a full summary and recommendation.

Key facts

Bilateral only (§2(h)(7))

No central order book. Every IOI goes agent-to-agent. Tomorrow never takes a leg.

Hard mandate ceiling

Notional cap, tenor limits, and counterparty restrictions are hard limits — not guidelines. Agents cannot exceed them.

Constitution receipts

Every action gets a signed compliance receipt from the Policy Constitution engine. Full audit trail, always.

One-click kill switch

Stop your agent at any time from the Autonomy Cockpit. No open positions are unwound — the kill switch is forward-only.

FAQ

How is this different from an algorithm?

A standard algorithm follows fixed rules. Your A2A agent negotiates — it sends an IOI, reads the counterparty agent's counter-proposal, adjusts terms based on their signals, and explains its reasoning at every step. You can read the full negotiation log at any time.

What if an agent makes a bad deal?

The mandate is a hard ceiling — the agent cannot exceed it. Your Policy Constitution blocks any action that violates your standing rules, and every action generates a signed Constitution receipt. A deal that fails either gate is rejected automatically and escalated to you with a full explanation.

Who sees my book?

Only your agents, operating as your agents — not Tomorrow's. Counterparty agents see only the specific IOI your agent proposes, not your full position. The A2A protocol is bilateral: no central order book, no broadcast, no visibility beyond the two-party negotiation.