Segregated Portfolio Company — Broker Procurement
This Ospina case study documents how Carlos Rico-Ospina approached a specific risk, infrastructure, revenue, or research problem and what was built to address it.
Designed a Cayman SPC structure to scale seven-figure broker relationships across multiple brands without compounding legal overhead.
The Problem
The business needed institutional-grade market data, order book infrastructure, and pricing feeds under large recurring contracts (seven-figure annualized, individual invoices reaching ~$600K/month). The operating model used U.S. LLCs for fee collection and offshore entities for trading environment administration—but scaling meant spinning up new offshore companies for each brand, creating unsustainable legal and operational overhead.
The Insight
The bottleneck wasn't negotiating broker terms—it was entity overhead. Each new brand triggered an expensive offshore formation cycle. The solution looked like a Series LLC concept, but offshore. That led to the Cayman analog: a Segregated Portfolio Company (SPC) where cells can be created via director resolution rather than full company formation.
What I Built
- Researched and proposed centralized Cayman SPC structure as scaling primitive
- Designed segregated portfolios ('cells') for each brand with practical legal separation for contracting
- Negotiated with recognized FX counterparties to accept SPC contracting structure
- Built standardized governance and contracting framework across all cells
Outcomes
- Enabled repeatable broker onboarding across brands without new offshore entities each time
- New brands supported via director resolution—turned entity expansion into operational step
- Preserved ethical separation between fee collection and trading environment administration
- Supported seven-figure vendor relationships with standardized governance
Why It Matters
Didn't accept entity overhead as 'the cost of doing business'—redesigned the structure so the business could scale without compounding complexity.
Cross-disciplinary solution combining vendor negotiation, regulatory framing, corporate structuring, and operational execution.
Entity and counterparty names anonymized. Structure and contracting framework verifiable upon request.
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