feat(quant-engine): v8.9 제안서 P0-P3 로드맵 채택 — 15개 의사결정 엔진 신규 구현

suggest/quant_investment_engine_v8_9_portfolio_optimizer_canonical_refactored.yaml의
implementation_todo_v8_9(P0~P4) 전체를 spec/tool/golden case 레벨로 구현.

- P0: PORTFOLIO_TRANSITION_UTILITY_V1, SELL_LOT_PARETO_SELECTOR_V1, FORECAST_SIMULATION_ENGINE_V1
- P1: SECTOR_EXPOSURE_GRAPH_V1/LEADER_LIFECYCLE_GATE_V1, EXECUTION_CAPACITY_LADDER_V1, MODEL_GOVERNANCE_KILL_SWITCH_V1
- P2: SCENARIO_SHOCK_MATRIX_V1, TRANSITION_SET_ENUMERATOR_V1, IMMUTABLE_DECISION_LEDGER_V1, EXECUTION_PLAN_COMPILER_V1
- P3: STATE_VECTOR_CONSTRUCTOR_V1, WALK_FORWARD_BOOTSTRAP_V1, TRANSITION_SET_ENUMERATOR_V1(MRC/CVaR 확장),
      REBALANCE_CADENCE_GATE_V1, WEEKLY_LEGACY_TRANSFER_PLAN_V1

기존 regime/cluster 연동 정책 수치(현금방어선, 반도체 cap)는 그대로 유지하고 신규 cap 필드만 추가.
spec/09_decision_flow.yaml과 runtime/active_artifact_manifest.yaml에 전 엔진 배선 완료.
governance/todo/v8_9_p{0,1,2,3}_adoption_plan.yaml에 각 단계 작업 추적 기록.

검증: validate_specs/validate_golden_coverage_100(100%)/validate_calibration_registry_v1/
validate_schema_model_generation_v1/validate_agents_shrink_v1 전부 PASS. golden test 53/53 PASS.

Co-Authored-By: Claude Sonnet 4.6 <noreply@anthropic.com>

RetirementAssetPortfolio.yaml

@@ -193,6 +193,10 @@ spec_files:
   formula_domain_fundamental: "spec/formulas/domains/fundamental.yaml"
   formula_domain_smart_money: "spec/formulas/domains/smart_money.yaml"
   formula_domain_macro: "spec/formulas/domains/macro.yaml"
+  formula_domain_simulation: "spec/formulas/domains/simulation.yaml"
+  formula_domain_sector: "spec/formulas/domains/sector.yaml"
+  formula_domain_execution: "spec/formulas/domains/execution.yaml"
+  formula_domain_governance: "spec/formulas/domains/governance.yaml"
   harness_formula_registry: "spec/13b_harness_formulas.yaml"
   raw_workbook_mapping: "spec/14_raw_workbook_mapping.yaml"
   account_snapshot_contract: "spec/15_account_snapshot_contract.yaml"

governance/todo/v8_9_p0_adoption_plan.yaml

@@ -0,0 +1,166 @@
+schema_version: v8_9_p0_adoption_plan.v1
+meta:
+  title: v8_9_p0_adoption_plan
+  source_proposal: suggest/quant_investment_engine_v8_9_portfolio_optimizer_canonical_refactored.yaml
+  decision_basis: >
+    정책 수치는 기존 regime/cluster 연동 수치를 유지하고 v8.9 신규 구조만 추가한다.
+    작업 범위는 운영에 즉시 필요한 3개 구멍(portfolio_transition_optimizer,
+    sell lot Pareto selector, CE70/CE90/CVaR95 simulation engine)만 우선 차단한다.
+    (사용자 확인: 2026-06-17 plan-mode 대화)
+  superseded_or_deferred_from_proposal:
+    - sector_graph_engine_v8_9 (factor residualization, leader lifecycle, ETF lookthrough)
+    - execution_plan_compiler_v8_9 (broker_microstructure_packet capacity 강화)
+    - model_governance_v8_9 (kill switch 자동화 전체 세트)
+    note: 이 항목들은 별도 후속 제안으로 분리한다. 이 TODO 파일의 범위 밖이다.
+  not_adopted_policy_values:
+    reason: 기존 spec/risk/portfolio_exposure.yaml의 regime/cluster_state 연동 수치가 v8.9의 고정값보다 더 정교함.
+    examples:
+      - "cash_floor: v8.9 GROWTH=12.5% 고정 → 기존 regime 7~25% 단계 유지"
+      - "semiconductor_cap: v8.9 35% 고정 → 기존 cluster_state 연동 25/35/60% 유지"
+  adopted_new_fields_only:
+    - single_stock_hard_cap_pct: 20
+    - single_stock_soft_cap_pct: 15
+    - top3_hard_cap_pct: 65
+    - top3_soft_cap_pct: 50
+
+tasks:
+  - id: P0-1.1
+    title: 신규 cap 필드 추가 (교체 아님, 추가)
+    output_file: spec/risk/portfolio_exposure.yaml
+    detail: >
+      single_stock_hard_cap_pct=20/soft=15, top3_hard_cap_pct=65/soft=50 신규 필드 추가.
+      기존 regime cash_floor·cluster_state 반도체 cap은 불변.
+    depends_on: []
+    acceptance_criteria:
+      - 신규 필드가 portfolio_exposure_framework 하위에 추가됨
+      - 기존 cash_floor.regime_numbers, cluster_states 수치 변경 없음 (git diff로 확인)
+
+  - id: P0-1.2
+    title: formula registry에 PORTFOLIO_TRANSITION_UTILITY_V1 등록
+    output_file:
+      - spec/formulas/domains/portfolio.yaml
+      - spec/13_formula_registry.yaml
+    detail: >
+      state_vector, candidate_action_schema, hard_veto_order, transition_utility 공식,
+      acceptance_margin, NO_TRADE/solver_failure/rank_tie/conflicting_packets fallback을
+      명시. spec/13_formula_registry.yaml의 python_harness_supplements.formulas에
+      PORTFOLIO_TRANSITION_UTILITY_V1 ID 추가.
+    depends_on: [P0-1.1]
+    acceptance_criteria:
+      - PORTFOLIO_TRANSITION_UTILITY_V1 공식이 spec/formulas/domains/portfolio.yaml에 존재
+      - 공식 ID가 spec/13_formula_registry.yaml에 등록됨
+      - default_action: NO_TRADE 명시
+
+  - id: P0-1.3
+    title: portfolio_transition_optimizer 빌드 도구 작성
+    output_file: tools/build_portfolio_transition_optimizer_v1.py
+    inputs:
+      - Temp/final_decision_packet_active.json
+      - Temp/sell_waterfall_engine_v3.json
+      - Temp/smart_cash_recovery_v9.json
+    detail: >
+      기존 tools/build_sell_waterfall_engine_v3.py 패턴(_load, argparse --base/--out)을 따른다.
+      candidate_actions를 입력 아티팩트에서 구성하고 hard_constraint_pass 평가 후
+      transition_utility_krw, acceptance_margin_krw를 계산해 selected_transition 또는
+      NO_TRADE를 결정론적으로 출력한다.
+    depends_on: [P0-1.2]
+    acceptance_criteria:
+      - 입력 아티팩트가 없으면 NO_TRADE_AND_QUARANTINE 반환 (추정값 생성 금지)
+      - 출력에 formula_id, gate, reason_codes, source_paths 포함
+
+  - id: P0-1.4
+    title: schema + generated model
+    output_file:
+      - schemas/portfolio_transition_optimizer_v1.schema.json
+      - src/quant_engine/models/generated/portfolio_transition_optimizer_v1_schema.py
+    depends_on: [P0-1.3]
+    acceptance_criteria:
+      - schemas/generated와 src/quant_engine/models/generated parity 유지 (AGENTS.md §5)
+
+  - id: P0-1.5
+    title: golden case 작성
+    output_file: tests/golden/generated/portfolio_transition_optimizer_v1_golden.py
+    detail: v8.9 제안서 V89_002(NO_TRADE default), V89_048(solver_failure), V89_049(rank_tie), V89_050(conflicting_packets) 대응 케이스.
+    depends_on: [P0-1.4]
+    acceptance_criteria:
+      - 4개 이상의 실질 assertion이 있는 테스트 (auto-generated stub 패턴 탈피)
+
+  - id: P0-1.6
+    title: runtime manifest·decision flow 배선
+    output_file:
+      - runtime/active_artifact_manifest.yaml
+      - spec/09_decision_flow.yaml
+    depends_on: [P0-1.5]
+    acceptance_criteria:
+      - manifest_rows 또는 source_precedence에 portfolio_transition_optimizer_v1 등록
+
+  - id: P0-2.1
+    title: SELL_LOT_PARETO_SELECTOR_V1 공식 정의
+    output_file: spec/formulas/domains/cash.yaml
+    detail: >
+      기존 SELL_WATERFALL_ENGINE_V1 옆에 신규 섹션 추가.
+      tax_loss_benefit, missed_upside_penalty, reentry_cost 항을 LOT_SELL_SCORE에 추가하고
+      동순위 후보 간 Pareto 비교(avoided_tail_loss vs missed_upside 등 다목적) 규칙 명시.
+    depends_on: []
+    acceptance_criteria:
+      - LOT_SELL_SCORE 공식에 3개 신규 항 모두 포함
+      - Pareto 비교 규칙(어떤 후보가 다른 후보를 dominate하는지)이 결정론적으로 기술됨
+
+  - id: P0-2.2
+    title: build_sell_waterfall_engine_v4.py
+    output_file: tools/build_sell_waterfall_engine_v4.py
+    detail: tools/build_sell_waterfall_engine_v3.py를 확장. v3 출력을 입력으로 받아 Pareto 선택 단계를 추가.
+    depends_on: [P0-2.1]
+    acceptance_criteria:
+      - v3 출력과 하위호환 (기존 rows 구조 보존, 신규 필드만 추가)
+
+  - id: P0-2.3
+    title: sell waterfall v4 golden case
+    output_file: tests/golden/generated/sell_waterfall_engine_v4_golden.py
+    detail: V89_029(deconcentration_trim), V89_030(profit_lock), V89_031(tax_drag_too_high) 대응.
+    depends_on: [P0-2.2]
+    acceptance_criteria:
+      - 3개 케이스 모두 실질 assertion 포함
+
+  - id: P0-3.1
+    title: CE70/CE90/CVaR95 공식 계약 정의
+    output_file: spec/formulas/domains/simulation.yaml
+    detail: >
+      spec/29_backtest_harness_contract.yaml의 insufficient_data 상태를 입력으로 받아
+      sample_count_total/same_regime이 v8.9 minimum_sample_rules(SHADOW 30/10, PILOT 80/20,
+      LIVE_LIMITED 150/30, LIVE_FULL 300/50) 미달이면 WATCH_ONLY 또는 DATA_MISSING 반환.
+      표본이 충분할 때만 walk_forward_bootstrap 실행 경로를 명시. 가짜 분포 생성 금지.
+    depends_on: []
+    acceptance_criteria:
+      - minimum_sample_rules 표본 기준이 AGENTS.md §6b(T+20 30건)와 일치
+      - 표본 부족 시 반환값이 DATA_MISSING 또는 WATCH_ONLY로만 표시됨 (추정 금지)
+
+  - id: P0-3.2
+    title: build_forecast_simulation_engine_v1.py
+    output_file: tools/build_forecast_simulation_engine_v1.py
+    inputs:
+      - Temp/prediction_accuracy_harness_v2.json
+      - spec/29_backtest_harness_contract.yaml
+    depends_on: [P0-3.1]
+    acceptance_criteria:
+      - 현재 T+20 표본 0건 상태에서 실행 시 CE70/CE90/CVaR95가 DATA_MISSING으로 출력됨
+
+  - id: P0-3.3
+    title: forecast simulation golden case
+    output_file: tests/golden/generated/forecast_simulation_engine_v1_golden.py
+    detail: V89_013(missing_CVaR → QUARANTINE), V89_014(same_regime_sample_low → WATCH_ONLY) 대응.
+    depends_on: [P0-3.2]
+    acceptance_criteria:
+      - 2개 케이스 모두 실질 assertion 포함
+
+  - id: P0-4.1
+    title: 전체 검증 스위트 실행
+    command: |
+      python tools/validate_specs.py
+      python tools/validate_golden_coverage_100.py
+      python tools/validate_calibration_registry_v1.py
+      python tools/validate_schema_model_generation_v1.py
+      python tools/validate_agents_shrink_v1.py
+    depends_on: [P0-1.6, P0-2.3, P0-3.3]
+    acceptance_criteria:
+      - 5개 validator 모두 PASS

governance/todo/v8_9_p1_adoption_plan.yaml

@@ -0,0 +1,110 @@
+schema_version: v8_9_p1_adoption_plan.v1
+meta:
+  title: v8_9_p1_adoption_plan
+  source_proposal: suggest/quant_investment_engine_v8_9_portfolio_optimizer_canonical_refactored.yaml
+  predecessor: governance/todo/v8_9_p0_adoption_plan.yaml
+  decision_basis: >
+    P0(portfolio_transition_optimizer, sell lot Pareto, CE70/CE90/CVaR95 simulation) 완료 후
+    사용자가 "로드맵에 따라 제안한 모든 작업을 순차적으로 진행"하도록 지시(2026-06-17).
+    탐색 결과(에이전트 보고) 3개 항목 모두 spec 레벨 구현이 없음을 확인 — 신규 구현.
+  scope:
+    - sector_graph_engine_v8_9 (canonical sector ID, ETF lookthrough, factor residualization, leader lifecycle)
+    - execution_plan_compiler_v8_9.broker_microstructure_packet (order_capacity formula)
+    - model_governance_v8_9 (kill switches, promotion_ladder 자동화)
+
+tasks:
+  - id: P1-A.1
+    title: SECTOR_EXPOSURE_GRAPH_V1 공식 정의
+    output_file: spec/formulas/domains/sector.yaml (신규)
+    detail: >
+      canonical_sector_id 포맷(L1:L2:L3:L4), ETF lookthrough_weight_pct 산식,
+      factor_beta_residualization(AI/반도체/전력 중복 베타 제거) 정의.
+    depends_on: []
+
+  - id: P1-A.2
+    title: LEADER_LIFECYCLE_GATE_V1 공식 정의
+    output_file: spec/formulas/domains/sector.yaml
+    detail: CAPTAIN/CORE_LEADER/ENABLER/CYCLICAL_BETA/LAGGARD/DISTRIBUTION_RISK promotion/demotion 결정론적 상태머신.
+    depends_on: [P1-A.1]
+
+  - id: P1-A.3
+    title: build_sector_exposure_graph_v1.py
+    output_file: tools/build_sector_exposure_graph_v1.py
+    depends_on: [P1-A.2]
+
+  - id: P1-A.4
+    title: schema + generated model (sector)
+    output_file:
+      - schemas/generated/sector_exposure_graph_v1.schema.json
+      - src/quant_engine/models/generated/sector_exposure_graph_v1_schema.py
+    depends_on: [P1-A.3]
+
+  - id: P1-A.5
+    title: sector golden case
+    detail: V89_044(sector_overlap), V89_045(ETF_direct_overlap), V89_046(leader_distribution)
+    output_file: tests/golden/generated/sector_exposure_graph_v1_golden.py
+    depends_on: [P1-A.4]
+
+  - id: P1-B.1
+    title: EXECUTION_CAPACITY_LADDER_V1 공식 정의
+    output_file: spec/formulas/domains/execution.yaml (신규)
+    detail: >
+      order_capacity_krw = min(planned_order_amount_krw, avg_trade_value_20d_krw*0.003,
+      intraday_trade_value_krw*0.01, orderbook_top3_depth_krw*0.30).
+      spread_bps, orderbook_top3_depth_krw 신규 필드.
+    depends_on: []
+
+  - id: P1-B.2
+    title: build_execution_capacity_ladder_v1.py
+    output_file: tools/build_execution_capacity_ladder_v1.py
+    depends_on: [P1-B.1]
+
+  - id: P1-B.3
+    title: schema + generated model (execution)
+    output_file:
+      - schemas/generated/execution_capacity_ladder_v1.schema.json
+      - src/quant_engine/models/generated/execution_capacity_ladder_v1_schema.py
+    depends_on: [P1-B.2]
+
+  - id: P1-B.4
+    title: execution capacity golden case
+    detail: V89_019(broker_packet_missing), V89_020(capacity_too_low), V89_022(spread_widens)
+    output_file: tests/golden/generated/execution_capacity_ladder_v1_golden.py
+    depends_on: [P1-B.3]
+
+  - id: P1-C.1
+    title: MODEL_GOVERNANCE_KILL_SWITCH_V1 공식 정의
+    output_file: spec/formulas/domains/governance.yaml (신규)
+    detail: >
+      data_quarantine_rate_above_5pct, implementation_shortfall_above_2x_expected,
+      T5_hit_rate_below_50pct_30trades, calibration_error_above_limit, drawdown_breach
+      kill switch 조건 + promotion_ladder(AUDIT_ONLY→SHADOW→PILOT→LIVE_LIMITED→LIVE_FULL) 자동화.
+    depends_on: []
+
+  - id: P1-C.2
+    title: build_model_governance_kill_switch_v1.py
+    output_file: tools/build_model_governance_kill_switch_v1.py
+    depends_on: [P1-C.1]
+
+  - id: P1-C.3
+    title: schema + generated model (governance)
+    output_file:
+      - schemas/generated/model_governance_kill_switch_v1.schema.json
+      - src/quant_engine/models/generated/model_governance_kill_switch_v1_schema.py
+    depends_on: [P1-C.2]
+
+  - id: P1-C.4
+    title: kill switch golden case
+    detail: V89_035(hit_rate), V89_036(slippage), V89_037(quarantine_rate)
+    output_file: tests/golden/generated/model_governance_kill_switch_v1_golden.py
+    depends_on: [P1-C.3]
+
+  - id: P1-4
+    title: 전체 검증 스위트 재실행
+    command: |
+      python tools/validate_specs.py
+      python tools/validate_golden_coverage_100.py
+      python tools/validate_calibration_registry_v1.py
+      python tools/validate_schema_model_generation_v1.py
+      python tools/validate_agents_shrink_v1.py
+    depends_on: [P1-A.5, P1-B.4, P1-C.4]

governance/todo/v8_9_p2_adoption_plan.yaml

@@ -0,0 +1,55 @@
+schema_version: v8_9_p2_adoption_plan.v1
+meta:
+  title: v8_9_p2_adoption_plan
+  source_proposal: suggest/quant_investment_engine_v8_9_portfolio_optimizer_canonical_refactored.yaml
+  predecessor:
+    - governance/todo/v8_9_p0_adoption_plan.yaml
+    - governance/todo/v8_9_p1_adoption_plan.yaml
+  decision_basis: >
+    P0+P1 완료(spec/tool/schema/golden case/decision_flow/manifest 배선까지) 후 사용자가
+    "로드맵에 따라서 제안한 모든 작업을 순차적으로 진행"을 재요청(2026-06-17).
+    원본 제안서의 implementation_todo_v8_9 중 P0/P1에서 다루지 않은 4개 세부 항목을 P2로 채택.
+  scope:
+    - forecast_and_simulation_engine_v8_9.simulation_grid (scenario shock matrix)
+    - portfolio_transition_optimizer_v8_9.selection_algorithm (transition-set 조합 열거)
+    - model_governance_v8_9.immutable_decision_log_required_fields
+    - execution_plan_compiler_v8_9 (LIMIT_SPLIT 전체 컴파일)
+
+tasks:
+  - id: P2-A
+    title: SCENARIO_SHOCK_MATRIX_V1
+    output_file: spec/formulas/domains/simulation.yaml
+    detail: >
+      base/adverse/liquidity_drought/crisis/fx_shock/tax_cost 6개 시나리오로 net_profit_distribution을
+      스트레스 적용. 표본 부족 시 DATA_MISSING(가짜 분포 생성 금지).
+    implementation: tools/build_scenario_shock_matrix_v1.py
+
+  - id: P2-B
+    title: TRANSITION_SET_ENUMERATOR_V1
+    output_file: spec/formulas/domains/portfolio.yaml
+    detail: >
+      개별 candidate가 아니라 candidate 조합(transition set) 단위로 hard_constraint_pass,
+      post_trade_cash_floor_pct, transition_utility_krw를 평가하고 최고 utility set을 선택.
+      solver_failure/rank_tie/conflicting_packets fallback은 PORTFOLIO_TRANSITION_UTILITY_V1과 동일.
+    implementation: tools/build_transition_set_enumerator_v1.py
+
+  - id: P2-C
+    title: IMMUTABLE_DECISION_LEDGER_V1
+    output_file: spec/formulas/domains/governance.yaml
+    detail: >
+      decision_id, timestamp, input_hash_bundle, selected_transition_id, T1/T5/T20_return,
+      MAE, MFE를 append-only로 기록. 기존 레코드 수정 금지(append-only 검증).
+    implementation: tools/build_immutable_decision_ledger_v1.py
+
+  - id: P2-D
+    title: EXECUTION_PLAN_COMPILER_V1
+    output_file: spec/formulas/domains/execution.yaml
+    detail: >
+      EXECUTION_CAPACITY_LADDER_V1 산출물을 LIMIT_SPLIT 30/30/40 슬라이스로 컴파일하고,
+      슬라이스 실행 전 cash_floor/capacity/spread 재검증, cancel_remaining_if 조건 평가.
+    implementation: tools/build_execution_plan_compiler_v1.py
+
+  - id: P2-E
+    title: schema/model + decision_flow/manifest 배선 + 전체 검증
+    detail: 4개 신규 공식의 schemas/generated + src/quant_engine/models/generated 생성, spec/09_decision_flow.yaml 및 runtime/active_artifact_manifest.yaml 배선, 5개 validator 재실행.
+    depends_on: [P2-A, P2-B, P2-C, P2-D]

governance/todo/v8_9_p3_adoption_plan.yaml

@@ -0,0 +1,60 @@
+schema_version: v8_9_p3_adoption_plan.v1
+meta:
+  title: v8_9_p3_adoption_plan
+  source_proposal: suggest/quant_investment_engine_v8_9_portfolio_optimizer_canonical_refactored.yaml
+  predecessor:
+    - governance/todo/v8_9_p0_adoption_plan.yaml
+    - governance/todo/v8_9_p1_adoption_plan.yaml
+    - governance/todo/v8_9_p2_adoption_plan.yaml
+  decision_basis: >
+    P0+P1+P2 완료 후 사용자가 "로드맵에 따라서 제안한 모든 작업을 순차적으로 진행"을 3회 재요청(2026-06-17).
+    원본 제안서의 implementation_todo_v8_9 중 P1_optimizer_and_simulation, P3_sell_and_rebalance에서
+    아직 다루지 않은 5개 항목을 P3로 채택. 이번이 로드맵의 마지막 라운드다 — 이후 implementation_todo_v8_9
+    전체가 소진된다.
+  scope:
+    - P1_optimizer_and_simulation: state_vector constructor, walk-forward bootstrap, post-trade MRC/CVaR per set
+    - P3_sell_and_rebalance: mandatory cadence gate, legacy-to-CMA transfer plan as planning input
+
+tasks:
+  - id: P3-A
+    title: STATE_VECTOR_CONSTRUCTOR_V1
+    output_file: spec/formulas/domains/portfolio.yaml
+    detail: holdings, cash, tax_lots, sector_graph, factor_exposures, macro_regime_probabilities를 단일 state_vector로 통합.
+    implementation: tools/build_state_vector_constructor_v1.py
+
+  - id: P3-B
+    title: WALK_FORWARD_BOOTSTRAP_V1
+    output_file: spec/formulas/domains/simulation.yaml
+    detail: >
+      historical_returns 표본에서 walk-forward(시간순 비복원 윈도우) 및 regime-matched(동일 레짐
+      필터) 리샘플링으로 net_profit_distribution_after_tax_fee_slippage를 생성.
+      FORECAST_SIMULATION_ENGINE_V1의 입력을 채우는 상류 엔진. 표본 부족 시 DATA_MISSING.
+    implementation: tools/build_walk_forward_bootstrap_v1.py
+
+  - id: P3-C
+    title: TRANSITION_SET_ENUMERATOR_V1 확장 — set 단위 MRC/CVaR/concentration/cash_floor
+    output_file: spec/formulas/domains/portfolio.yaml
+    detail: 기존 cash_floor/concentration delta 합산만 하던 것을 post_trade_MRC, post_trade_CVaR95까지 포함하도록 확장.
+    implementation: tools/build_transition_set_enumerator_v1.py (확장)
+
+  - id: P3-D
+    title: REBALANCE_CADENCE_GATE_V1
+    output_file: spec/formulas/domains/portfolio.yaml
+    detail: >
+      주간(토/일) 및 매월 1/11/21일 점검을 의무 실행하되, transition_utility_after_tax_cost가
+      양수이거나 hard_risk_block이 active일 때만 실제 리밸런싱을 허용. 그 외에는 점검 결과만
+      emit하고 NO_TRADE.
+    implementation: tools/build_rebalance_cadence_gate_v1.py
+
+  - id: P3-E
+    title: WEEKLY_LEGACY_TRANSFER_PLAN_V1
+    output_file: spec/formulas/domains/cash.yaml
+    detail: >
+      주간 레거시종목→CMA 이전 계획(weekly_legacy_to_cma_transfer_plan_krw)을 입금 확인 전까지
+      deployable_cash_krw에 합산하지 않는다. 계획 단계와 확정 단계를 분리.
+    implementation: tools/build_weekly_legacy_transfer_plan_v1.py
+
+  - id: P3-F
+    title: schema/model + decision_flow/manifest 배선 + 전체 검증
+    detail: 5개 신규/확장 공식의 schemas/generated + src/quant_engine/models/generated 생성, spec/09_decision_flow.yaml 및 runtime/active_artifact_manifest.yaml 배선, 5개 validator 재실행.
+    depends_on: [P3-A, P3-B, P3-C, P3-D, P3-E]

runtime/active_artifact_manifest.yaml

@@ -15,6 +15,18 @@ active_aliases:
   final_decision_packet_active: Temp/final_decision_packet_active.json
 source_precedence:
 - final_decision_packet_active
+- model_governance_kill_switch_v1
+- state_vector_constructor_v1
+- weekly_legacy_transfer_plan_v1
+- portfolio_transition_optimizer_v1
+- walk_forward_bootstrap_v1
+- transition_set_enumerator_v1
+- rebalance_cadence_gate_v1
+- scenario_shock_matrix_v1
+- sector_exposure_graph_v1
+- execution_capacity_ladder_v1
+- execution_plan_compiler_v1
+- immutable_decision_ledger_v1
 - final_execution_decision_v2
 - smart_cash_recovery_v7
 - smart_cash_recovery_v6
@@ -42,3 +54,39 @@ manifest_rows:
 - formula_id: smart_cash_recovery_v7
   active_artifact: Temp/smart_cash_recovery_v9.json
   value: 57841575
+- formula_id: portfolio_transition_optimizer_v1
+  active_artifact: Temp/portfolio_transition_optimizer_v1.json
+  value: NO_TRADE
+- formula_id: model_governance_kill_switch_v1
+  active_artifact: Temp/model_governance_kill_switch_v1.json
+  value: AUDIT_ONLY
+- formula_id: sector_exposure_graph_v1
+  active_artifact: Temp/sector_exposure_graph_v1.json
+  value: DATA_MISSING
+- formula_id: execution_capacity_ladder_v1
+  active_artifact: Temp/execution_capacity_ladder_v1.json
+  value: DATA_MISSING
+- formula_id: transition_set_enumerator_v1
+  active_artifact: Temp/transition_set_enumerator_v1.json
+  value: NO_TRADE
+- formula_id: scenario_shock_matrix_v1
+  active_artifact: Temp/scenario_shock_matrix_v1.json
+  value: DATA_MISSING
+- formula_id: execution_plan_compiler_v1
+  active_artifact: Temp/execution_plan_compiler_v1.json
+  value: DATA_MISSING
+- formula_id: immutable_decision_ledger_v1
+  active_artifact: Temp/immutable_decision_ledger_v1.json
+  value: APPENDED
+- formula_id: state_vector_constructor_v1
+  active_artifact: Temp/state_vector_constructor_v1.json
+  value: 0.0
+- formula_id: walk_forward_bootstrap_v1
+  active_artifact: Temp/walk_forward_bootstrap_v1.json
+  value: DATA_MISSING
+- formula_id: rebalance_cadence_gate_v1
+  active_artifact: Temp/rebalance_cadence_gate_v1.json
+  value: false
+- formula_id: weekly_legacy_transfer_plan_v1
+  active_artifact: Temp/weekly_legacy_transfer_plan_v1.json
+  value: 0.0

schemas/generated/execution_capacity_ladder_v1.schema.json

@@ -0,0 +1,46 @@
+{
+  "$schema": "https://json-schema.org/draft/2020-12/schema",
+  "$id": "schema://formula/EXECUTION_CAPACITY_LADDER_V1",
+  "title": "EXECUTION_CAPACITY_LADDER_V1",
+  "type": "object",
+  "properties": {
+    "formula_id": {
+      "const": "EXECUTION_CAPACITY_LADDER_V1"
+    },
+    "owner": {
+      "type": "string"
+    },
+    "status": {
+      "type": "string"
+    },
+    "inputs": {
+      "type": "array",
+      "items": {
+        "type": "string"
+      }
+    },
+    "outputs": {
+      "type": "array",
+      "items": {
+        "type": "string"
+      }
+    }
+  },
+  "required": [
+    "formula_id",
+    "owner",
+    "status",
+    "inputs",
+    "outputs"
+  ],
+  "x_formula_inputs": [
+    "planned_order_amount_krw",
+    "avg_trade_value_20d_krw",
+    "intraday_trade_value_krw",
+    "orderbook_top3_depth_krw",
+    "spread_bps"
+  ],
+  "x_formula_outputs": [
+    "order_capacity_krw"
+  ]
+}

schemas/generated/execution_plan_compiler_v1.schema.json

@@ -0,0 +1,16 @@
+{
+  "$schema": "https://json-schema.org/draft/2020-12/schema",
+  "$id": "schema://formula/EXECUTION_PLAN_COMPILER_V1",
+  "title": "EXECUTION_PLAN_COMPILER_V1",
+  "type": "object",
+  "properties": {
+    "formula_id": { "const": "EXECUTION_PLAN_COMPILER_V1" },
+    "owner": { "type": "string" },
+    "status": { "type": "string" },
+    "inputs": { "type": "array", "items": { "type": "string" } },
+    "outputs": { "type": "array", "items": { "type": "string" } }
+  },
+  "required": ["formula_id", "owner", "status", "inputs", "outputs"],
+  "x_formula_inputs": ["order_capacity_krw", "revalidation_snapshot", "baseline_snapshot"],
+  "x_formula_outputs": ["compiled_slices"]
+}

schemas/generated/immutable_decision_ledger_v1.schema.json

@@ -0,0 +1,16 @@
+{
+  "$schema": "https://json-schema.org/draft/2020-12/schema",
+  "$id": "schema://formula/IMMUTABLE_DECISION_LEDGER_V1",
+  "title": "IMMUTABLE_DECISION_LEDGER_V1",
+  "type": "object",
+  "properties": {
+    "formula_id": { "const": "IMMUTABLE_DECISION_LEDGER_V1" },
+    "owner": { "type": "string" },
+    "status": { "type": "string" },
+    "inputs": { "type": "array", "items": { "type": "string" } },
+    "outputs": { "type": "array", "items": { "type": "string" } }
+  },
+  "required": ["formula_id", "owner", "status", "inputs", "outputs"],
+  "x_formula_inputs": ["decision_id", "input_hash_bundle", "execution_mode", "candidate_ids", "selected_transition_id"],
+  "x_formula_outputs": ["ledger_append_status"]
+}

schemas/generated/model_governance_kill_switch_v1.schema.json

@@ -0,0 +1,51 @@
+{
+  "$schema": "https://json-schema.org/draft/2020-12/schema",
+  "$id": "schema://formula/MODEL_GOVERNANCE_KILL_SWITCH_V1",
+  "title": "MODEL_GOVERNANCE_KILL_SWITCH_V1",
+  "type": "object",
+  "properties": {
+    "formula_id": {
+      "const": "MODEL_GOVERNANCE_KILL_SWITCH_V1"
+    },
+    "owner": {
+      "type": "string"
+    },
+    "status": {
+      "type": "string"
+    },
+    "inputs": {
+      "type": "array",
+      "items": {
+        "type": "string"
+      }
+    },
+    "outputs": {
+      "type": "array",
+      "items": {
+        "type": "string"
+      }
+    }
+  },
+  "required": [
+    "formula_id",
+    "owner",
+    "status",
+    "inputs",
+    "outputs"
+  ],
+  "x_formula_inputs": [
+    "data_quarantine_rate_pct",
+    "implementation_shortfall_ratio",
+    "t5_hit_rate_pct",
+    "t5_sample_count",
+    "calibration_error",
+    "calibration_error_limit",
+    "account_mdd_pct",
+    "account_mdd_budget_pct"
+  ],
+  "x_formula_outputs": [
+    "execution_mode",
+    "kill_switch_triggered",
+    "kill_switch_reason_codes"
+  ]
+}

schemas/generated/portfolio_transition_optimizer_v1.schema.json

@@ -0,0 +1,48 @@
+{
+  "$schema": "https://json-schema.org/draft/2020-12/schema",
+  "$id": "schema://formula/PORTFOLIO_TRANSITION_UTILITY_V1",
+  "title": "PORTFOLIO_TRANSITION_UTILITY_V1",
+  "type": "object",
+  "properties": {
+    "formula_id": {
+      "const": "PORTFOLIO_TRANSITION_UTILITY_V1"
+    },
+    "owner": {
+      "type": "string"
+    },
+    "status": {
+      "type": "string"
+    },
+    "inputs": {
+      "type": "array",
+      "items": {
+        "type": "string"
+      }
+    },
+    "outputs": {
+      "type": "array",
+      "items": {
+        "type": "string"
+      }
+    }
+  },
+  "required": [
+    "formula_id",
+    "owner",
+    "status",
+    "inputs",
+    "outputs"
+  ],
+  "x_formula_inputs": [
+    "ce70_net_profit_krw",
+    "tax_fee_slippage_krw",
+    "cash_repair_benefit_krw",
+    "concentration_reduction_benefit_krw",
+    "turnover_penalty_krw"
+  ],
+  "x_formula_outputs": [
+    "transition_utility_krw",
+    "acceptance_margin_krw",
+    "selected_transition"
+  ]
+}

schemas/generated/rebalance_cadence_gate_v1.schema.json

@@ -0,0 +1,16 @@
+{
+  "$schema": "https://json-schema.org/draft/2020-12/schema",
+  "$id": "schema://formula/REBALANCE_CADENCE_GATE_V1",
+  "title": "REBALANCE_CADENCE_GATE_V1",
+  "type": "object",
+  "properties": {
+    "formula_id": { "const": "REBALANCE_CADENCE_GATE_V1" },
+    "owner": { "type": "string" },
+    "status": { "type": "string" },
+    "inputs": { "type": "array", "items": { "type": "string" } },
+    "outputs": { "type": "array", "items": { "type": "string" } }
+  },
+  "required": ["formula_id", "owner", "status", "inputs", "outputs"],
+  "x_formula_inputs": ["today_date", "transition_utility_after_tax_cost_krw", "hard_risk_block_active"],
+  "x_formula_outputs": ["rebalance_execution_allowed", "cadence_check_required", "review_emitted"]
+}

schemas/generated/scenario_shock_matrix_v1.schema.json

@@ -0,0 +1,16 @@
+{
+  "$schema": "https://json-schema.org/draft/2020-12/schema",
+  "$id": "schema://formula/SCENARIO_SHOCK_MATRIX_V1",
+  "title": "SCENARIO_SHOCK_MATRIX_V1",
+  "type": "object",
+  "properties": {
+    "formula_id": { "const": "SCENARIO_SHOCK_MATRIX_V1" },
+    "owner": { "type": "string" },
+    "status": { "type": "string" },
+    "inputs": { "type": "array", "items": { "type": "string" } },
+    "outputs": { "type": "array", "items": { "type": "string" } }
+  },
+  "required": ["formula_id", "owner", "status", "inputs", "outputs"],
+  "x_formula_inputs": ["net_profit_distribution_after_tax_fee_slippage", "scenario_id"],
+  "x_formula_outputs": ["scenario_results"]
+}

schemas/generated/sector_exposure_graph_v1.schema.json

@@ -0,0 +1,49 @@
+{
+  "$schema": "https://json-schema.org/draft/2020-12/schema",
+  "$id": "schema://formula/SECTOR_EXPOSURE_GRAPH_V1",
+  "title": "SECTOR_EXPOSURE_GRAPH_V1",
+  "type": "object",
+  "properties": {
+    "formula_id": {
+      "const": "SECTOR_EXPOSURE_GRAPH_V1"
+    },
+    "owner": {
+      "type": "string"
+    },
+    "status": {
+      "type": "string"
+    },
+    "inputs": {
+      "type": "array",
+      "items": {
+        "type": "string"
+      }
+    },
+    "outputs": {
+      "type": "array",
+      "items": {
+        "type": "string"
+      }
+    }
+  },
+  "required": [
+    "formula_id",
+    "owner",
+    "status",
+    "inputs",
+    "outputs"
+  ],
+  "x_formula_inputs": [
+    "direct_weight_pct",
+    "etf_constituents_json",
+    "etf_weight_pct",
+    "sector_id",
+    "peer_sector_betas"
+  ],
+  "x_formula_outputs": [
+    "sector_family_total_pct",
+    "lookthrough_etf_weight_pct",
+    "factor_beta_residualized",
+    "leader_role"
+  ]
+}

schemas/generated/state_vector_constructor_v1.schema.json

@@ -0,0 +1,16 @@
+{
+  "$schema": "https://json-schema.org/draft/2020-12/schema",
+  "$id": "schema://formula/STATE_VECTOR_CONSTRUCTOR_V1",
+  "title": "STATE_VECTOR_CONSTRUCTOR_V1",
+  "type": "object",
+  "properties": {
+    "formula_id": { "const": "STATE_VECTOR_CONSTRUCTOR_V1" },
+    "owner": { "type": "string" },
+    "status": { "type": "string" },
+    "inputs": { "type": "array", "items": { "type": "string" } },
+    "outputs": { "type": "array", "items": { "type": "string" } }
+  },
+  "required": ["formula_id", "owner", "status", "inputs", "outputs"],
+  "x_formula_inputs": ["cash_ladder", "positions", "sector_exposure_graph", "factor_exposures", "tax_lots", "risk_bucket_weights", "macro_regime_probabilities", "goal_progress_pct"],
+  "x_formula_outputs": ["state_vector", "state_vector_completeness_pct", "missing_components"]
+}

schemas/generated/transition_set_enumerator_v1.schema.json

@@ -0,0 +1,16 @@
+{
+  "$schema": "https://json-schema.org/draft/2020-12/schema",
+  "$id": "schema://formula/TRANSITION_SET_ENUMERATOR_V1",
+  "title": "TRANSITION_SET_ENUMERATOR_V1",
+  "type": "object",
+  "properties": {
+    "formula_id": { "const": "TRANSITION_SET_ENUMERATOR_V1" },
+    "owner": { "type": "string" },
+    "status": { "type": "string" },
+    "inputs": { "type": "array", "items": { "type": "string" } },
+    "outputs": { "type": "array", "items": { "type": "string" } }
+  },
+  "required": ["formula_id", "owner", "status", "inputs", "outputs"],
+  "x_formula_inputs": ["evaluated_candidates", "max_set_size"],
+  "x_formula_outputs": ["selected_transition_set"]
+}

schemas/generated/walk_forward_bootstrap_v1.schema.json

@@ -0,0 +1,16 @@
+{
+  "$schema": "https://json-schema.org/draft/2020-12/schema",
+  "$id": "schema://formula/WALK_FORWARD_BOOTSTRAP_V1",
+  "title": "WALK_FORWARD_BOOTSTRAP_V1",
+  "type": "object",
+  "properties": {
+    "formula_id": { "const": "WALK_FORWARD_BOOTSTRAP_V1" },
+    "owner": { "type": "string" },
+    "status": { "type": "string" },
+    "inputs": { "type": "array", "items": { "type": "string" } },
+    "outputs": { "type": "array", "items": { "type": "string" } }
+  },
+  "required": ["formula_id", "owner", "status", "inputs", "outputs"],
+  "x_formula_inputs": ["historical_returns", "current_regime_state", "bootstrap_method"],
+  "x_formula_outputs": ["net_profit_distribution_after_tax_fee_slippage", "sample_count_total", "sample_count_same_regime"]
+}

schemas/generated/weekly_legacy_transfer_plan_v1.schema.json

@@ -0,0 +1,16 @@
+{
+  "$schema": "https://json-schema.org/draft/2020-12/schema",
+  "$id": "schema://formula/WEEKLY_LEGACY_TRANSFER_PLAN_V1",
+  "title": "WEEKLY_LEGACY_TRANSFER_PLAN_V1",
+  "type": "object",
+  "properties": {
+    "formula_id": { "const": "WEEKLY_LEGACY_TRANSFER_PLAN_V1" },
+    "owner": { "type": "string" },
+    "status": { "type": "string" },
+    "inputs": { "type": "array", "items": { "type": "string" } },
+    "outputs": { "type": "array", "items": { "type": "string" } }
+  },
+  "required": ["formula_id", "owner", "status", "inputs", "outputs"],
+  "x_formula_inputs": ["weekly_legacy_to_cma_transfer_plan_krw", "transfer_confirmed", "transfer_confirmed_amount_krw"],
+  "x_formula_outputs": ["deployable_cash_contribution_krw", "plan_status"]
+}

spec/09_decision_flow.yaml

@@ -9,7 +9,7 @@ meta:
     각 상태는 통과 조건, 실패 시 행동, 참조 파일을 가진다.
 
 decision_flow:
-  initial_state: "INPUT_VALIDATION"
+  initial_state: "MODEL_GOVERNANCE_GATE"
   terminal_states: ["FINAL_DECISION", "INSUFFICIENT_DATA", "BLOCKED"]
   deterministic_execution_control:
     purpose: "텍스트 해석 차이로 매번 다른 결론이 나오는 것을 줄이기 위한 결정 추적·동률 처리·first-match 규칙."
@@ -37,6 +37,18 @@ decision_flow:
     null_propagation_rule: "필수 입력이 null이면 해당 계산은 null로 유지하고 prohibited_calculations에 사유를 남긴다. null을 0으로 대체 금지."
     output_requirement: "OUTPUT_VALIDATION에서 decision_trace 누락 시 schema_validation_status=FAIL."
   states:
+    MODEL_GOVERNANCE_GATE:  # [governance/todo/v8_9_p1_adoption_plan.yaml P1-5]
+      purpose: >
+        매 의사결정 사이클 시작 전 kill switch(data_quarantine_rate, implementation_shortfall,
+        T5_hit_rate, calibration_error, drawdown)를 평가해 execution_mode를 확정한다.
+        이후 모든 단계는 이 execution_mode를 기준으로 동작한다.
+      required_refs:
+        - "spec/formulas/domains/governance.yaml:MODEL_GOVERNANCE_KILL_SWITCH_V1"
+        - "tools/build_model_governance_kill_switch_v1.py"
+      required_inputs: ["data_quarantine_rate_pct", "implementation_shortfall_ratio", "t5_hit_rate_pct", "t5_sample_count", "calibration_error", "account_mdd_pct"]
+      computed_outputs: ["execution_mode", "kill_switch_triggered", "kill_switch_reason_codes"]
+      pass_condition: "execution_mode 확정(kill switch 평가 완료 또는 DATA_MISSING)"
+      fail_state: "INSUFFICIENT_DATA"
     INPUT_VALIDATION:
       purpose: "요청, 기준일, 계좌, 보유수량, 가격/수급/ATR 입력 존재 여부 확인"
       required_refs:
@@ -57,6 +69,20 @@ decision_flow:
       computed_outputs: ["data_completeness_matrix", "missing_fields", "field_unit_conflicts"]
       pass_condition: "data_completeness_matrix produced"
       fail_state: "INSUFFICIENT_DATA"
+    STATE_VECTOR_CONSTRUCTION:  # [governance/todo/v8_9_p3_adoption_plan.yaml P3-F]
+      purpose: >
+        holdings, cash, tax_lots, sector_graph, factor_exposures, macro_regime_probabilities를
+        단일 state_vector로 통합한다. cash_ladder 구성 시 WEEKLY_LEGACY_TRANSFER_PLAN_V1을
+        통해 미확정 레거시 이전계획을 deployable_cash에서 제외한다.
+      required_refs:
+        - "spec/formulas/domains/portfolio.yaml:STATE_VECTOR_CONSTRUCTOR_V1"
+        - "spec/formulas/domains/cash.yaml:WEEKLY_LEGACY_TRANSFER_PLAN_V1"
+        - "tools/build_state_vector_constructor_v1.py"
+        - "tools/build_weekly_legacy_transfer_plan_v1.py"
+      required_inputs: ["data_completeness_matrix", "account_snapshot"]
+      computed_outputs: ["state_vector", "state_vector_completeness_pct", "missing_components", "deployable_cash_contribution_krw"]
+      pass_condition: "state_vector 산출(결측 component 포함 가능)"
+      fail_state: "INSUFFICIENT_DATA"
     HARD_FILTER_CHECK:
       purpose: "하드 필터를 점수보다 먼저 적용"
       required_refs:
@@ -130,6 +156,18 @@ decision_flow:
               - "trim_assignments 없이 현금 부족 해소 주장 금지"
               - "QEH_AUDIT_BLOCK.SELL_PRIORITY_V1 행에 배정 결과 요약 필수"
               - "1순위 소진 전 2순위 배정 금지 (sell_priority_engine 순서 준수)"
+    SECTOR_EXPOSURE_REVIEW:  # [governance/todo/v8_9_p1_adoption_plan.yaml P1-5]
+      purpose: >
+        섹터를 canonical ID로 분류하고 ETF lookthrough·factor beta residualization을 적용해
+        실질노출을 산출하며, 리더 생명주기(CAPTAIN~DISTRIBUTION_RISK)를 평가한다.
+      required_refs:
+        - "spec/formulas/domains/sector.yaml:SECTOR_EXPOSURE_GRAPH_V1"
+        - "spec/formulas/domains/sector.yaml:LEADER_LIFECYCLE_GATE_V1"
+        - "tools/build_sector_exposure_graph_v1.py"
+      required_inputs: ["exposure_limit_amounts", "current_exposures", "etf_constituents_json"]
+      computed_outputs: ["sector_family_total_pct", "lookthrough_etf_weight_pct", "leader_role"]
+      pass_condition: "섹터 노출 산출 또는 ETF_BUY_BLOCKED/DATA_MISSING 명시"
+      fail_state: "INSUFFICIENT_DATA"
     POSITION_SIZING:
       purpose: "ATR20·현금·목표비중·유동성으로 정수 수량 산출"
       required_refs:
@@ -175,6 +213,44 @@ decision_flow:
           - "CRITICAL_ALERT 시 코어 포지션 포함 전면 재검토 강제"
           - "LLM이 레이더 결과를 완화하는 서사 출력 금지 (Section B 해설만 허용)"
           - "RADAR_MISSING(데이터 부족) 시 soft-block: 보유 포지션 수동 점검 권고 문구 출력"
+    PORTFOLIO_TRANSITION_REVIEW:  # [governance/todo/v8_9_p0_adoption_plan.yaml P0-1.6, v8_9_p2_adoption_plan.yaml P2-E]
+      purpose: >
+        개별 종목 단위 결정을 포트폴리오 전체 전환 효용으로 재평가한다.
+        EXIT_POLICY_CHECK에서 나온 sell 후보들을 단일 전환 패킷으로 비교해
+        selected_transition_set 또는 NO_TRADE를 결정론적으로 확정한다. CE70/CVaR95 분포는
+        WALK_FORWARD_BOOTSTRAP_V1으로 생성하고 SCENARIO_SHOCK_MATRIX_V1의 5개 스트레스
+        시나리오를 반영하며, candidate 1건이 아니라 TRANSITION_SET_ENUMERATOR_V1으로 조합 단위
+        hard_constraint(MRC/CVaR95 포함)를 재검증한다. 실제 실행은 REBALANCE_CADENCE_GATE_V1의
+        rebalance_execution_allowed=true일 때만 허용된다.
+      required_refs:
+        - "spec/formulas/domains/portfolio.yaml:PORTFOLIO_TRANSITION_UTILITY_V1"
+        - "spec/formulas/domains/portfolio.yaml:TRANSITION_SET_ENUMERATOR_V1"
+        - "spec/formulas/domains/portfolio.yaml:REBALANCE_CADENCE_GATE_V1"
+        - "spec/formulas/domains/simulation.yaml:SCENARIO_SHOCK_MATRIX_V1"
+        - "spec/formulas/domains/simulation.yaml:WALK_FORWARD_BOOTSTRAP_V1"
+        - "tools/build_portfolio_transition_optimizer_v1.py"
+        - "tools/build_transition_set_enumerator_v1.py"
+        - "tools/build_scenario_shock_matrix_v1.py"
+        - "tools/build_walk_forward_bootstrap_v1.py"
+        - "tools/build_rebalance_cadence_gate_v1.py"
+      required_inputs: ["stop_order", "take_profit_order", "sell_waterfall_rows", "cash_repair_benefit_krw", "rebalance_execution_allowed"]
+      computed_outputs: ["transition_utility_krw", "acceptance_margin_krw", "selected_transition", "portfolio_transition_final_action", "selected_transition_set", "scenario_results", "post_trade_mrc", "post_trade_cvar95_krw"]
+      pass_condition: "selected_transition_set 결정(rebalance_execution_allowed=true 필요) 또는 default_action=NO_TRADE 명시"
+      fail_state: "INSUFFICIENT_DATA"
+    EXECUTION_CAPACITY_CHECK:  # [governance/todo/v8_9_p1_adoption_plan.yaml P1-5, v8_9_p2_adoption_plan.yaml P2-E]
+      purpose: >
+        selected_transition_set의 주문금액이 실제 체결 가능 용량(20일 평균거래대금, 당일 거래대금,
+        호가창 깊이)을 초과하지 않는지 확인하고, broker_microstructure_packet 결측 시 차단한다.
+        용량이 확인되면 EXECUTION_PLAN_COMPILER_V1으로 30/30/40 LIMIT_SPLIT 슬라이스를 컴파일한다.
+      required_refs:
+        - "spec/formulas/domains/execution.yaml:EXECUTION_CAPACITY_LADDER_V1"
+        - "spec/formulas/domains/execution.yaml:EXECUTION_PLAN_COMPILER_V1"
+        - "tools/build_execution_capacity_ladder_v1.py"
+        - "tools/build_execution_plan_compiler_v1.py"
+      required_inputs: ["selected_transition_set", "avg_trade_value_20d_krw", "intraday_trade_value_krw", "orderbook_top3_depth_krw", "spread_bps"]
+      computed_outputs: ["order_capacity_krw", "execution_plan_status", "compiled_slices"]
+      pass_condition: "order_capacity_krw 산출 또는 EXECUTION_PLAN_BLOCKED 명시"
+      fail_state: "INSUFFICIENT_DATA"
     OUTPUT_VALIDATION:
       purpose: "JSON Schema와 HTS 표 필드 검증"
       required_refs:
@@ -188,25 +264,38 @@ decision_flow:
       purpose: "BUY/HOLD/SELL/TRIM/ROTATE/AVOID/WATCH/INSUFFICIENT_DATA 중 하나로 결론"
       required_refs:
         - "spec/07_output_schema.yaml:recommendation_grade"
+        - "spec/formulas/domains/governance.yaml:IMMUTABLE_DECISION_LEDGER_V1"
       output_required:
         - "final_action"
         - "grade"
         - "orders or prohibited_calculations"
         - "rules_used"
+        - "ledger_append_status"
+      post_state_action: "tools/build_immutable_decision_ledger_v1.py 호출 — decision_id 재기록 시도는 DUPLICATE_DECISION_ID로 거부."
     INSUFFICIENT_DATA:
       purpose: "데이터 부족으로 산출 불가. 다음 확인 출처를 제시."
       output_required:
         - "missing_fields"
         - "prohibited_calculations"
         - "next_source_to_check"
+        - "ledger_append_status"
+      post_state_action: "INSUFFICIENT_DATA로 종료해도 IMMUTABLE_DECISION_LEDGER_V1에 기록한다(결정 없음도 기록 대상)."
     BLOCKED:
       purpose: "하드 필터 또는 리스크 정책으로 행동 차단."
       output_required:
         - "triggered_rules"
         - "blocked_action"
         - "allowed_alternative"
+        - "ledger_append_status"
+      post_state_action: "BLOCKED로 종료해도 IMMUTABLE_DECISION_LEDGER_V1에 기록한다."
 
 transitions:
+  - from: "MODEL_GOVERNANCE_GATE"
+    to: "INPUT_VALIDATION"
+    condition: "execution_mode 확정(kill switch 평가 완료 또는 DATA_MISSING)"
+  - from: "MODEL_GOVERNANCE_GATE"
+    to: "INSUFFICIENT_DATA"
+    condition: "kill switch 평가에 필요한 모든 지표가 결측"
   - from: "INPUT_VALIDATION"
     to: "DATA_COMPLETENESS_CHECK"
     condition: "minimum request context exists"
@@ -214,11 +303,14 @@ transitions:
     to: "INSUFFICIENT_DATA"
     condition: "account/request context missing and cannot be inferred"
   - from: "DATA_COMPLETENESS_CHECK"
-    to: "HARD_FILTER_CHECK"
+    to: "STATE_VECTOR_CONSTRUCTION"
     condition: "data_completeness_matrix produced"
   - from: "DATA_COMPLETENESS_CHECK"
     to: "INSUFFICIENT_DATA"
     condition: "matrix cannot be produced"
+  - from: "STATE_VECTOR_CONSTRUCTION"
+    to: "HARD_FILTER_CHECK"
+    condition: "state_vector 산출(결측 component 포함 가능)"
   - from: "HARD_FILTER_CHECK"
     to: "BLOCKED"
     condition: "blocking hard_filter failed"
@@ -235,17 +327,35 @@ transitions:
     to: "BLOCKED"
     condition: "cash_floor, duplicate exposure, account limit, or Total_Heat blocks requested action"
   - from: "PORTFOLIO_CONSTRAINT_CHECK"
-    to: "POSITION_SIZING"
+    to: "SECTOR_EXPOSURE_REVIEW"
-    condition: "requested action requires quantity"
+    condition: "requested action requires quantity or affects sector exposure"
   - from: "PORTFOLIO_CONSTRAINT_CHECK"
     to: "EXIT_POLICY_CHECK"
     condition: "requested action is hold/trim/sell review"
+  - from: "SECTOR_EXPOSURE_REVIEW"
+    to: "POSITION_SIZING"
+    condition: "섹터 노출 산출 또는 ETF_BUY_BLOCKED/DATA_MISSING 명시"
+  - from: "SECTOR_EXPOSURE_REVIEW"
+    to: "INSUFFICIENT_DATA"
+    condition: "sector exposure 계산에 필요한 입력 누락"
   - from: "POSITION_SIZING"
     to: "EXIT_POLICY_CHECK"
     condition: "quantity calculated or NO_QUANTITY reason emitted"
   - from: "EXIT_POLICY_CHECK"
-    to: "OUTPUT_VALIDATION"
+    to: "PORTFOLIO_TRANSITION_REVIEW"
     condition: "order/hold/watch decision prepared"
+  - from: "PORTFOLIO_TRANSITION_REVIEW"
+    to: "EXECUTION_CAPACITY_CHECK"
+    condition: "selected_transition 결정 또는 NO_TRADE 명시"
+  - from: "PORTFOLIO_TRANSITION_REVIEW"
+    to: "INSUFFICIENT_DATA"
+    condition: "transition utility 계산에 필요한 입력 누락"
+  - from: "EXECUTION_CAPACITY_CHECK"
+    to: "OUTPUT_VALIDATION"
+    condition: "order_capacity_krw 산출 또는 EXECUTION_PLAN_BLOCKED 명시 (NO_TRADE인 경우 즉시 통과)"
+  - from: "EXECUTION_CAPACITY_CHECK"
+    to: "INSUFFICIENT_DATA"
+    condition: "broker_microstructure_packet 필드 누락"
   - from: "OUTPUT_VALIDATION"
     to: "FINAL_DECISION"
     condition: "schema and required output fields valid"

spec/12_field_dictionary.yaml

@@ -2189,6 +2189,502 @@ field_dictionary:
       aliases: ["Base_Qty", "base_sell_qty"]
       note: "SELL_QUANTITY_ALLOCATOR_V1 산출 기준 매도 수량. CASH_PRESERVATION_SELL_ENGINE_V2 입력."
 
+    # ── [2026-06-17_P0_v8_9_ADOPTION] PORTFOLIO_TRANSITION_UTILITY_V1 신규 필드 ──
+    ce70_net_profit_krw:
+      canonical_name: "ce70_net_profit_krw"
+      type: "number_or_null"
+      unit: "KRW"
+      aliases: ["CE70_NET_PROFIT_KRW", "ce70_profit"]
+      note: "forecast_simulation_engine_v1 산출 — 세후비용 차감 손익분포의 30%분위(CE70). 표본 부족 시 null(DATA_MISSING)."
+    tax_fee_slippage_krw:
+      canonical_name: "tax_fee_slippage_krw"
+      type: "number"
+      unit: "KRW"
+      aliases: ["TAX_FEE_SLIPPAGE_KRW", "tax_fee_slippage"]
+      note: "sell_waterfall_engine_v4 산출 — 세금·수수료·슬리피지 합산 비용."
+    cash_repair_benefit_krw:
+      canonical_name: "cash_repair_benefit_krw"
+      type: "number"
+      unit: "KRW"
+      aliases: ["CASH_REPAIR_BENEFIT_KRW"]
+      note: "smart_cash_recovery_v9 연동 — 현금방어선 회복으로 인한 효용 가치."
+    concentration_reduction_benefit_krw:
+      canonical_name: "concentration_reduction_benefit_krw"
+      type: "number"
+      unit: "KRW"
+      aliases: ["CONCENTRATION_REDUCTION_BENEFIT_KRW"]
+      note: "portfolio_exposure.concentration_caps_v8_9_supplement 초과 해소로 인한 효용 가치."
+    turnover_penalty_krw:
+      canonical_name: "turnover_penalty_krw"
+      type: "number"
+      unit: "KRW"
+      aliases: ["TURNOVER_PENALTY_KRW"]
+      note: "회전율 예산 초과분에 대한 페널티. rebalancing_engine_v8_9.turnover_budget 참조."
+    transition_utility_krw:
+      canonical_name: "transition_utility_krw"
+      type: "number_or_null"
+      unit: "KRW"
+      aliases: ["TRANSITION_UTILITY_KRW"]
+      note: "PORTFOLIO_TRANSITION_UTILITY_V1 산출 — 양수일 때만 전환 후보 채택 검토. 입력 결측 시 null(NO_TRADE_AND_QUARANTINE)."
+    avoided_tail_loss_krw:
+      canonical_name: "avoided_tail_loss_krw"
+      type: "number"
+      unit: "KRW"
+      aliases: ["AVOIDED_TAIL_LOSS_KRW"]
+      note: "SELL_LOT_PARETO_SELECTOR_V1 입력 — 해당 lot을 매도하지 않았을 때 예상되는 꼬리위험 손실 회피액."
+    tax_loss_benefit_krw:
+      canonical_name: "tax_loss_benefit_krw"
+      type: "number"
+      unit: "KRW"
+      aliases: ["TAX_LOSS_BENEFIT_KRW"]
+      note: "SELL_LOT_PARETO_SELECTOR_V1 입력 — 손실 lot 매도 시 세금 절감 효과. 계좌유형 미확인 시 0(DATA_MISSING 표기)."
+    reentry_cost_krw:
+      canonical_name: "reentry_cost_krw"
+      type: "number"
+      unit: "KRW"
+      aliases: ["REENTRY_COST_KRW"]
+      note: "SELL_LOT_PARETO_SELECTOR_V1 입력 — 매도 후 재진입 시 예상 거래비용·스프레드."
+    missed_upside_penalty_krw:
+      canonical_name: "missed_upside_penalty_krw"
+      type: "number"
+      unit: "KRW"
+      aliases: ["MISSED_UPSIDE_PENALTY_KRW"]
+      note: "SELL_LOT_PARETO_SELECTOR_V1 입력 — CE70_NET_PROFIT_KRW 분포 기반 추정 상승분. 분포 없으면 0(보수적 하한)."
+    lot_sell_score_krw:
+      canonical_name: "lot_sell_score_krw"
+      type: "number_or_null"
+      unit: "KRW"
+      aliases: ["LOT_SELL_SCORE_KRW"]
+      note: "SELL_LOT_PARETO_SELECTOR_V1 산출 — 동일 hard_precedence 단계 내 lot 우선순위 점수."
+    ce90_net_profit_krw:
+      canonical_name: "ce90_net_profit_krw"
+      type: "number_or_null"
+      unit: "KRW"
+      aliases: ["CE90_NET_PROFIT_KRW"]
+      note: "FORECAST_SIMULATION_ENGINE_V1 산출 — 손익분포 10%분위(CE90). 표본 부족 시 null(WATCH_ONLY)."
+    cvar95_loss_krw:
+      canonical_name: "cvar95_loss_krw"
+      type: "number_or_null"
+      unit: "KRW"
+      aliases: ["CVAR95_LOSS_KRW"]
+      note: "FORECAST_SIMULATION_ENGINE_V1 산출 — 95% 신뢰구간 꼬리손실 평균. 표본 부족 시 null(WATCH_ONLY)."
+    sample_count_total:
+      canonical_name: "sample_count_total"
+      type: "integer"
+      unit: "count"
+      aliases: ["SAMPLE_COUNT_TOTAL"]
+      note: "FORECAST_SIMULATION_ENGINE_V1 입력 — 전체 손익 표본 수. spec/29_backtest_harness_contract.yaml 연동."
+    sample_count_same_regime:
+      canonical_name: "sample_count_same_regime"
+      type: "integer"
+      unit: "count"
+      aliases: ["SAMPLE_COUNT_SAME_REGIME"]
+      note: "FORECAST_SIMULATION_ENGINE_V1 입력 — 동일 레짐 손익 표본 수."
+    net_profit_distribution_after_tax_fee_slippage:
+      canonical_name: "net_profit_distribution_after_tax_fee_slippage"
+      type: "list_or_null"
+      unit: "list_of_KRW"
+      aliases: ["NET_PROFIT_DISTRIBUTION"]
+      note: "FORECAST_SIMULATION_ENGINE_V1 입력 — 세후·비용 차감 손익 표본 분포. spec/29_backtest_harness_contract.yaml 연동."
+    execution_mode:
+      canonical_name: "execution_mode"
+      type: "string"
+      unit: "none"
+      aliases: ["EXECUTION_MODE", "global_execution_gate"]
+      note: "AUDIT_ONLY | SHADOW | PILOT | LIVE_LIMITED | LIVE_FULL. PORTFOLIO_TRANSITION_UTILITY_V1·FORECAST_SIMULATION_ENGINE_V1 입력."
+
+    # ── [2026-06-17_P1_v8_9_ADOPTION] SECTOR_EXPOSURE_GRAPH_V1 / LEADER_LIFECYCLE_GATE_V1 ──
+    direct_weight_pct:
+      canonical_name: "direct_weight_pct"
+      type: "number"
+      unit: "percent"
+      aliases: ["DIRECT_WEIGHT_PCT"]
+      note: "SECTOR_EXPOSURE_GRAPH_V1 입력 — 종목 직접보유 비중."
+    etf_constituents_json:
+      canonical_name: "etf_constituents_json"
+      type: "list_or_null"
+      unit: "json"
+      aliases: ["ETF_CONSTITUENTS_JSON"]
+      note: "SECTOR_EXPOSURE_GRAPH_V1 입력 — ETF 구성종목 [{ticker, weight_pct, sector_id}]. 미확인 시 ETF_BUY_BLOCKED."
+    etf_weight_pct:
+      canonical_name: "etf_weight_pct"
+      type: "number"
+      unit: "percent"
+      aliases: ["ETF_WEIGHT_PCT"]
+      note: "SECTOR_EXPOSURE_GRAPH_V1 입력 — 포트폴리오 내 ETF 비중."
+    sector_id:
+      canonical_name: "sector_id"
+      type: "string"
+      unit: "none"
+      aliases: ["SECTOR_ID"]
+      note: "canonical_sector_id_format(L1:L2:L3:L4) 준수. 예: EQ:TECH:SEMIS:HBM."
+    peer_sector_betas:
+      canonical_name: "peer_sector_betas"
+      type: "list_or_null"
+      unit: "list_of_ratio"
+      aliases: ["PEER_SECTOR_BETAS"]
+      note: "SECTOR_EXPOSURE_GRAPH_V1 입력 — 동일 macro_driver 공유 섹터 베타 목록. 미확인 시 raw beta 사용 + PARTIAL 표기."
+    sector_family_total_pct:
+      canonical_name: "sector_family_total_pct"
+      type: "number_or_null"
+      unit: "percent"
+      aliases: ["SECTOR_FAMILY_TOTAL_PCT"]
+      note: "SECTOR_EXPOSURE_GRAPH_V1 산출 — direct_weight_pct + lookthrough_etf_weight_pct."
+    relative_strength_leads_sector:
+      canonical_name: "relative_strength_leads_sector"
+      type: "boolean"
+      unit: "none"
+      aliases: ["RELATIVE_STRENGTH_LEADS_SECTOR"]
+      note: "LEADER_LIFECYCLE_GATE_V1 입력 — promotion_requires_all 항목."
+    volume_quality_confirmed:
+      canonical_name: "volume_quality_confirmed"
+      type: "boolean"
+      unit: "none"
+      aliases: ["VOLUME_QUALITY_CONFIRMED"]
+      note: "LEADER_LIFECYCLE_GATE_V1 입력 — promotion_requires_all 항목."
+    above_ma60_or_reclaim_confirmed:
+      canonical_name: "above_ma60_or_reclaim_confirmed"
+      type: "boolean"
+      unit: "none"
+      aliases: ["ABOVE_MA60_OR_RECLAIM_CONFIRMED"]
+      note: "LEADER_LIFECYCLE_GATE_V1 입력 — promotion_requires_all 항목, demotion_triggers_any 항목."
+    earnings_revision_status:
+      canonical_name: "earnings_revision_status"
+      type: "string"
+      unit: "none"
+      aliases: ["EARNINGS_REVISION_STATUS"]
+      note: "LEADER_LIFECYCLE_GATE_V1 입력 — positive | neutral | negative."
+    institutional_flow_status:
+      canonical_name: "institutional_flow_status"
+      type: "string"
+      unit: "none"
+      aliases: ["INSTITUTIONAL_FLOW_STATUS"]
+      note: "LEADER_LIFECYCLE_GATE_V1 입력 — accumulation | neutral | distribution."
+    current_role:
+      canonical_name: "current_role"
+      type: "string"
+      unit: "none"
+      aliases: ["CURRENT_ROLE"]
+      note: "LEADER_LIFECYCLE_GATE_V1 입력 — 직전 평가 leader_role. 최초 평가 시 LAGGARD."
+    leader_role:
+      canonical_name: "leader_role"
+      type: "string"
+      unit: "none"
+      aliases: ["LEADER_ROLE"]
+      note: "LEADER_LIFECYCLE_GATE_V1 산출 — CAPTAIN | CORE_LEADER | ENABLER | CYCLICAL_BETA | LAGGARD | DISTRIBUTION_RISK."
+
+    # ── [2026-06-17_P1_v8_9_ADOPTION] EXECUTION_CAPACITY_LADDER_V1 신규 필드 ──
+    planned_order_amount_krw:
+      canonical_name: "planned_order_amount_krw"
+      type: "number"
+      unit: "KRW"
+      aliases: ["PLANNED_ORDER_AMOUNT_KRW"]
+      note: "EXECUTION_CAPACITY_LADDER_V1 입력 — 계획된 주문금액."
+    avg_trade_value_20d_krw:
+      canonical_name: "avg_trade_value_20d_krw"
+      type: "number_or_null"
+      unit: "KRW"
+      aliases: ["AVG_TRADE_VALUE_20D_KRW", "AvgTradeValue_20D"]
+      note: "EXECUTION_CAPACITY_LADDER_V1 입력 — 20일 평균거래대금. 미확인 시 EXECUTION_PLAN_BLOCKED."
+    intraday_trade_value_krw:
+      canonical_name: "intraday_trade_value_krw"
+      type: "number_or_null"
+      unit: "KRW"
+      aliases: ["INTRADAY_TRADE_VALUE_KRW"]
+      note: "EXECUTION_CAPACITY_LADDER_V1 입력 — 당일 누적 거래대금."
+    orderbook_top3_depth_krw:
+      canonical_name: "orderbook_top3_depth_krw"
+      type: "number_or_null"
+      unit: "KRW"
+      aliases: ["ORDERBOOK_TOP3_DEPTH_KRW"]
+      note: "EXECUTION_CAPACITY_LADDER_V1 입력 — 호가창 상위 3단계 누적 깊이."
+    spread_bps:
+      canonical_name: "spread_bps"
+      type: "number_or_null"
+      unit: "basis_points"
+      aliases: ["SPREAD_BPS"]
+      note: "EXECUTION_CAPACITY_LADDER_V1 입력 — 매수/매도 호가 스프레드. spread_widen_cancel_rule 연동."
+    order_capacity_krw:
+      canonical_name: "order_capacity_krw"
+      type: "number_or_null"
+      unit: "KRW"
+      aliases: ["ORDER_CAPACITY_KRW"]
+      note: "EXECUTION_CAPACITY_LADDER_V1 산출 — 체결 가능 용량 상한. 결측 입력 시 null(EXECUTION_PLAN_BLOCKED)."
+
+    # ── [2026-06-17_P1_v8_9_ADOPTION] MODEL_GOVERNANCE_KILL_SWITCH_V1 신규 필드 ──
+    data_quarantine_rate_pct:
+      canonical_name: "data_quarantine_rate_pct"
+      type: "number_or_null"
+      unit: "percent"
+      aliases: ["DATA_QUARANTINE_RATE_PCT"]
+      note: "MODEL_GOVERNANCE_KILL_SWITCH_V1 입력 — 결측/충돌로 quarantine된 입력 비율. >5%면 kill switch."
+    implementation_shortfall_ratio:
+      canonical_name: "implementation_shortfall_ratio"
+      type: "number_or_null"
+      unit: "ratio"
+      aliases: ["IMPLEMENTATION_SHORTFALL_RATIO"]
+      note: "MODEL_GOVERNANCE_KILL_SWITCH_V1 입력 — 실제/기대 슬리피지 비율. >2.0이면 kill switch."
+    t5_hit_rate_pct:
+      canonical_name: "t5_hit_rate_pct"
+      type: "number_or_null"
+      unit: "percent"
+      aliases: ["T5_HIT_RATE_PCT"]
+      note: "MODEL_GOVERNANCE_KILL_SWITCH_V1 입력 — spec/29_backtest_harness_contract.yaml:t5_op_rate 연동."
+    t5_sample_count:
+      canonical_name: "t5_sample_count"
+      type: "integer"
+      unit: "count"
+      aliases: ["T5_SAMPLE_COUNT"]
+      note: "MODEL_GOVERNANCE_KILL_SWITCH_V1 입력 — t5_hit_rate_pct 표본 수. 30건 미만이면 hit_rate kill switch 미적용."
+    calibration_error:
+      canonical_name: "calibration_error"
+      type: "number_or_null"
+      unit: "ratio"
+      aliases: ["CALIBRATION_ERROR"]
+      note: "MODEL_GOVERNANCE_KILL_SWITCH_V1 입력 — spec/calibration_registry.yaml 연동."
+    calibration_error_limit:
+      canonical_name: "calibration_error_limit"
+      type: "number"
+      unit: "ratio"
+      aliases: ["CALIBRATION_ERROR_LIMIT"]
+      note: "MODEL_GOVERNANCE_KILL_SWITCH_V1 입력 — calibration_error 허용 상한."
+    account_mdd_pct:
+      canonical_name: "account_mdd_pct"
+      type: "number_or_null"
+      unit: "percent"
+      aliases: ["ACCOUNT_MDD_PCT"]
+      note: "MODEL_GOVERNANCE_KILL_SWITCH_V1 입력 — 현재 계좌 MDD."
+    account_mdd_budget_pct:
+      canonical_name: "account_mdd_budget_pct"
+      type: "number"
+      unit: "percent"
+      aliases: ["ACCOUNT_MDD_BUDGET_PCT"]
+      note: "MODEL_GOVERNANCE_KILL_SWITCH_V1 입력 — spec/risk/aggregate_risk.yaml MDD 예산."
+    kill_switch_triggered:
+      canonical_name: "kill_switch_triggered"
+      type: "boolean"
+      unit: "none"
+      aliases: ["KILL_SWITCH_TRIGGERED"]
+      note: "MODEL_GOVERNANCE_KILL_SWITCH_V1 산출 — kill_switch_conditions 중 하나 이상 true."
+
+    # ── [2026-06-17_P2_v8_9_ADOPTION] SCENARIO_SHOCK_MATRIX_V1 신규 필드 ──
+    scenario_id:
+      canonical_name: "scenario_id"
+      type: "string"
+      unit: "none"
+      aliases: ["SCENARIO_ID"]
+      note: "SCENARIO_SHOCK_MATRIX_V1 입력 — base_case | adverse_case | liquidity_drought_case | crisis_case | fx_shock_case | tax_cost_case."
+    scenario_results:
+      canonical_name: "scenario_results"
+      type: "list_or_null"
+      unit: "list_of_object"
+      aliases: ["SCENARIO_RESULTS"]
+      note: "SCENARIO_SHOCK_MATRIX_V1 산출 — [{scenario_id, scenario_ce70_krw, scenario_cvar95_krw}]. 분포 결측 시 null."
+
+    # ── [2026-06-17_P2_v8_9_ADOPTION] TRANSITION_SET_ENUMERATOR_V1 신규 필드 ──
+    evaluated_candidates:
+      canonical_name: "evaluated_candidates"
+      type: "list"
+      unit: "list_of_object"
+      aliases: ["EVALUATED_CANDIDATES"]
+      note: "TRANSITION_SET_ENUMERATOR_V1 입력 — PORTFOLIO_TRANSITION_UTILITY_V1.candidate_actions 산출물."
+    max_set_size:
+      canonical_name: "max_set_size"
+      type: "integer"
+      unit: "count"
+      aliases: ["MAX_SET_SIZE"]
+      note: "TRANSITION_SET_ENUMERATOR_V1 입력 — 조합 폭발 방지 상한. 기본값 3."
+    selected_transition_set:
+      canonical_name: "selected_transition_set"
+      type: "list"
+      unit: "list_of_string"
+      aliases: ["SELECTED_TRANSITION_SET"]
+      note: "TRANSITION_SET_ENUMERATOR_V1 산출 — 최종 선택된 candidate_id 조합. 빈 리스트면 NO_TRADE."
+
+    # ── [2026-06-17_P2_v8_9_ADOPTION] IMMUTABLE_DECISION_LEDGER_V1 신규 필드 ──
+    decision_id:
+      canonical_name: "decision_id"
+      type: "string"
+      unit: "none"
+      aliases: ["DECISION_ID"]
+      note: "IMMUTABLE_DECISION_LEDGER_V1 입력 — 동일 ID 재기록 시 DUPLICATE_DECISION_ID."
+    input_hash_bundle:
+      canonical_name: "input_hash_bundle"
+      type: "string"
+      unit: "none"
+      aliases: ["INPUT_HASH_BUNDLE"]
+      note: "IMMUTABLE_DECISION_LEDGER_V1 입력 — 의사결정 시점 입력 데이터 해시 묶음."
+    candidate_ids:
+      canonical_name: "candidate_ids"
+      type: "list"
+      unit: "list_of_string"
+      aliases: ["CANDIDATE_IDS"]
+      note: "IMMUTABLE_DECISION_LEDGER_V1 입력 — 평가 대상이 된 candidate_id 목록."
+    selected_transition_id:
+      canonical_name: "selected_transition_id"
+      type: "string_or_null"
+      unit: "none"
+      aliases: ["SELECTED_TRANSITION_ID"]
+      note: "IMMUTABLE_DECISION_LEDGER_V1 입력 — NO_TRADE면 null."
+    ledger_append_status:
+      canonical_name: "ledger_append_status"
+      type: "string"
+      unit: "none"
+      aliases: ["LEDGER_APPEND_STATUS"]
+      note: "IMMUTABLE_DECISION_LEDGER_V1 산출 — APPENDED | DUPLICATE_DECISION_ID | REJECTED_MISSING_FIELDS."
+
+    # ── [2026-06-17_P2_v8_9_ADOPTION] EXECUTION_PLAN_COMPILER_V1 신규 필드 ──
+    revalidation_snapshot:
+      canonical_name: "revalidation_snapshot"
+      type: "object_or_null"
+      unit: "json"
+      aliases: ["REVALIDATION_SNAPSHOT"]
+      note: "EXECUTION_PLAN_COMPILER_V1 입력 — slice 직전 시점 {cash_floor_pct, deployable_cash_krw, order_capacity_krw, spread_bps}."
+    baseline_snapshot:
+      canonical_name: "baseline_snapshot"
+      type: "object_or_null"
+      unit: "json"
+      aliases: ["BASELINE_SNAPSHOT"]
+      note: "EXECUTION_PLAN_COMPILER_V1 입력 — slice 1 컴파일 시점 스냅샷. cancel_remaining_if 기준값."
+    compiled_slices:
+      canonical_name: "compiled_slices"
+      type: "list_or_null"
+      unit: "list_of_object"
+      aliases: ["COMPILED_SLICES"]
+      note: "EXECUTION_PLAN_COMPILER_V1 산출 — [{slice_index, slice_amount_krw, status}]."
+
+    # ── [2026-06-17_P3_v8_9_ADOPTION] STATE_VECTOR_CONSTRUCTOR_V1 / REBALANCE_CADENCE_GATE_V1 신규 필드 ──
+    cash_ladder:
+      canonical_name: "cash_ladder"
+      type: "object_or_null"
+      unit: "json"
+      aliases: ["CASH_LADDER"]
+      note: "STATE_VECTOR_CONSTRUCTOR_V1 입력 — spec/formulas/domains/cash.yaml:CASH_RATIOS_V1 산출."
+    positions:
+      canonical_name: "positions"
+      type: "list_or_null"
+      unit: "list_of_object"
+      aliases: ["POSITIONS"]
+      note: "STATE_VECTOR_CONSTRUCTOR_V1 입력 — spec/15_account_snapshot_contract.yaml 보유종목 목록."
+    sector_exposure_graph:
+      canonical_name: "sector_exposure_graph"
+      type: "list_or_null"
+      unit: "list_of_object"
+      aliases: ["SECTOR_EXPOSURE_GRAPH"]
+      note: "STATE_VECTOR_CONSTRUCTOR_V1 입력 — SECTOR_EXPOSURE_GRAPH_V1.rows 산출."
+    goal_progress_pct:
+      canonical_name: "goal_progress_pct"
+      type: "number_or_null"
+      unit: "percent"
+      aliases: ["GOAL_PROGRESS_PCT"]
+      note: "STATE_VECTOR_CONSTRUCTOR_V1 입력 — total_asset_krw / target_asset_krw * 100."
+    factor_exposures:
+      canonical_name: "factor_exposures"
+      type: "list_or_null"
+      unit: "list_of_object"
+      aliases: ["FACTOR_EXPOSURES"]
+      note: "STATE_VECTOR_CONSTRUCTOR_V1 입력 — spec/risk/factor_risk.yaml 연동."
+    tax_lots:
+      canonical_name: "tax_lots"
+      type: "list_or_null"
+      unit: "list_of_object"
+      aliases: ["TAX_LOTS"]
+      note: "STATE_VECTOR_CONSTRUCTOR_V1 입력 — spec/15_account_snapshot_contract.yaml 연동."
+    risk_bucket_weights:
+      canonical_name: "risk_bucket_weights"
+      type: "object_or_null"
+      unit: "json"
+      aliases: ["RISK_BUCKET_WEIGHTS"]
+      note: "STATE_VECTOR_CONSTRUCTOR_V1 입력 — spec/risk/portfolio_exposure.yaml 연동."
+    macro_regime_probabilities:
+      canonical_name: "macro_regime_probabilities"
+      type: "object_or_null"
+      unit: "json"
+      aliases: ["MACRO_REGIME_PROBABILITIES"]
+      note: "STATE_VECTOR_CONSTRUCTOR_V1 입력 — spec/risk/market_risk_cash.yaml 연동."
+    state_vector:
+      canonical_name: "state_vector"
+      type: "object_or_null"
+      unit: "json"
+      aliases: ["STATE_VECTOR"]
+      note: "STATE_VECTOR_CONSTRUCTOR_V1 산출 — 결측 component는 null + missing_components 기록."
+    missing_components:
+      canonical_name: "missing_components"
+      type: "list"
+      unit: "list_of_string"
+      aliases: ["MISSING_COMPONENTS"]
+      note: "STATE_VECTOR_CONSTRUCTOR_V1 산출 — null로 남은 component 이름 목록."
+    transition_utility_after_tax_cost_krw:
+      canonical_name: "transition_utility_after_tax_cost_krw"
+      type: "number_or_null"
+      unit: "KRW"
+      aliases: ["TRANSITION_UTILITY_AFTER_TAX_COST_KRW"]
+      note: "REBALANCE_CADENCE_GATE_V1 입력 — PORTFOLIO_TRANSITION_UTILITY_V1.transition_utility_krw와 동일 출처."
+    hard_risk_block_active:
+      canonical_name: "hard_risk_block_active"
+      type: "boolean_or_null"
+      unit: "none"
+      aliases: ["HARD_RISK_BLOCK_ACTIVE"]
+      note: "REBALANCE_CADENCE_GATE_V1 입력 — spec/risk/aggregate_risk.yaml 연동."
+    rebalance_execution_allowed:
+      canonical_name: "rebalance_execution_allowed"
+      type: "boolean"
+      unit: "none"
+      aliases: ["REBALANCE_EXECUTION_ALLOWED"]
+      note: "REBALANCE_CADENCE_GATE_V1 산출 — true여야 실제 리밸런싱 실행 가능."
+
+    # ── [2026-06-17_P3_v8_9_ADOPTION] WALK_FORWARD_BOOTSTRAP_V1 신규 필드 ──
+    historical_returns:
+      canonical_name: "historical_returns"
+      type: "list_or_null"
+      unit: "list_of_object"
+      aliases: ["HISTORICAL_RETURNS"]
+      note: "WALK_FORWARD_BOOTSTRAP_V1 입력 — [{date, regime_state, net_return_after_cost_pct}]. spec/29_backtest_harness_contract.yaml 연동."
+    current_regime_state:
+      canonical_name: "current_regime_state"
+      type: "string"
+      unit: "none"
+      aliases: ["CURRENT_REGIME_STATE"]
+      note: "WALK_FORWARD_BOOTSTRAP_V1 입력 — regime_matched 리샘플링 필터 기준."
+    bootstrap_method:
+      canonical_name: "bootstrap_method"
+      type: "string"
+      unit: "none"
+      aliases: ["BOOTSTRAP_METHOD"]
+      note: "WALK_FORWARD_BOOTSTRAP_V1 입력 — walk_forward | regime_matched."
+
+    # ── [2026-06-17_P3_v8_9_ADOPTION] WEEKLY_LEGACY_TRANSFER_PLAN_V1 신규 필드 ──
+    weekly_legacy_to_cma_transfer_plan_krw:
+      canonical_name: "weekly_legacy_to_cma_transfer_plan_krw"
+      type: "number"
+      unit: "KRW"
+      aliases: ["WEEKLY_LEGACY_TO_CMA_TRANSFER_PLAN_KRW"]
+      note: "WEEKLY_LEGACY_TRANSFER_PLAN_V1 입력 — spec/risk/portfolio_exposure.yaml operator_cashflow_config 고정 계획값."
+    transfer_confirmed:
+      canonical_name: "transfer_confirmed"
+      type: "boolean_or_null"
+      unit: "none"
+      aliases: ["TRANSFER_CONFIRMED"]
+      note: "WEEKLY_LEGACY_TRANSFER_PLAN_V1 입력 — null은 false로 간주(보수적)."
+    transfer_confirmed_amount_krw:
+      canonical_name: "transfer_confirmed_amount_krw"
+      type: "number_or_null"
+      unit: "KRW"
+      aliases: ["TRANSFER_CONFIRMED_AMOUNT_KRW"]
+      note: "WEEKLY_LEGACY_TRANSFER_PLAN_V1 입력 — transfer_confirmed=true일 때만 값 존재."
+    deployable_cash_contribution_krw:
+      canonical_name: "deployable_cash_contribution_krw"
+      type: "number"
+      unit: "KRW"
+      aliases: ["DEPLOYABLE_CASH_CONTRIBUTION_KRW"]
+      note: "WEEKLY_LEGACY_TRANSFER_PLAN_V1 산출 — 확정 전이면 0, 확정 후 transfer_confirmed_amount_krw."
+    plan_status:
+      canonical_name: "plan_status"
+      type: "string"
+      unit: "none"
+      aliases: ["PLAN_STATUS"]
+      note: "WEEKLY_LEGACY_TRANSFER_PLAN_V1 산출 — PLANNED_NOT_DEPLOYABLE | CONFIRMED_DEPLOYABLE."
+
 normalization_rules:
   - id: "FIELD_ALIAS_CANONICALIZATION"
     rule: "모든 입력은 계산 전 canonical_name으로 변환한다."

spec/13_formula_registry.yaml

@@ -97,6 +97,21 @@ formula_registry:
       - HORIZON_REBALANCE_PLAN_V1
       - PIPELINE_RUNTIME_PROFILE_V1
       - STRATEGY_ROUTING_AUDIT_V1
+      - PORTFOLIO_TRANSITION_UTILITY_V1
+      - SELL_LOT_PARETO_SELECTOR_V1
+      - FORECAST_SIMULATION_ENGINE_V1
+      - SECTOR_EXPOSURE_GRAPH_V1
+      - LEADER_LIFECYCLE_GATE_V1
+      - EXECUTION_CAPACITY_LADDER_V1
+      - MODEL_GOVERNANCE_KILL_SWITCH_V1
+      - SCENARIO_SHOCK_MATRIX_V1
+      - TRANSITION_SET_ENUMERATOR_V1
+      - IMMUTABLE_DECISION_LEDGER_V1
+      - EXECUTION_PLAN_COMPILER_V1
+      - STATE_VECTOR_CONSTRUCTOR_V1
+      - REBALANCE_CADENCE_GATE_V1
+      - WALK_FORWARD_BOOTSTRAP_V1
+      - WEEKLY_LEGACY_TRANSFER_PLAN_V1
       implementation_map:
         REGIME_CONDITIONAL_MACRO_FACTOR_V1: tools/build_predictive_alpha_dialectic_engine_v2.py:NF1
         REBOUND_CAPTURE_THESIS_FACTOR_V1: tools/build_predictive_alpha_dialectic_engine_v2.py:NF2
@@ -121,6 +136,21 @@ formula_registry:
         HORIZON_REBALANCE_PLAN_V1: tools/build_horizon_rebalance_plan_v1.py
         PIPELINE_RUNTIME_PROFILE_V1: src/quant_engine/pipeline_runtime_anomaly_lib_v1.py
         STRATEGY_ROUTING_AUDIT_V1: tools/build_strategy_routing_audit_v1.py
+        PORTFOLIO_TRANSITION_UTILITY_V1: tools/build_portfolio_transition_optimizer_v1.py
+        SELL_LOT_PARETO_SELECTOR_V1: tools/build_sell_waterfall_engine_v4.py
+        FORECAST_SIMULATION_ENGINE_V1: tools/build_forecast_simulation_engine_v1.py
+        SECTOR_EXPOSURE_GRAPH_V1: tools/build_sector_exposure_graph_v1.py
+        LEADER_LIFECYCLE_GATE_V1: tools/build_sector_exposure_graph_v1.py
+        EXECUTION_CAPACITY_LADDER_V1: tools/build_execution_capacity_ladder_v1.py
+        MODEL_GOVERNANCE_KILL_SWITCH_V1: tools/build_model_governance_kill_switch_v1.py
+        SCENARIO_SHOCK_MATRIX_V1: tools/build_scenario_shock_matrix_v1.py
+        TRANSITION_SET_ENUMERATOR_V1: tools/build_transition_set_enumerator_v1.py
+        IMMUTABLE_DECISION_LEDGER_V1: tools/build_immutable_decision_ledger_v1.py
+        EXECUTION_PLAN_COMPILER_V1: tools/build_execution_plan_compiler_v1.py
+        STATE_VECTOR_CONSTRUCTOR_V1: tools/build_state_vector_constructor_v1.py
+        REBALANCE_CADENCE_GATE_V1: tools/build_rebalance_cadence_gate_v1.py
+        WALK_FORWARD_BOOTSTRAP_V1: tools/build_walk_forward_bootstrap_v1.py
+        WEEKLY_LEGACY_TRANSFER_PLAN_V1: tools/build_weekly_legacy_transfer_plan_v1.py
   formulas:
     FLOW_CREDIT_V1:
       purpose: 가격·거래량·5D 수급 품질을 0~1 점수로 계산
@@ -2740,6 +2770,398 @@ formula_registry:
       - rebound_tp_price가 있으면 HTS 주문표에 '반등 익절가' 컬럼 필수 표기
       canonical_ref: AGENTS.md:Direction C1, K2
       version: 2026-05-22_3RD_HARNESS
+    SELL_LOT_PARETO_SELECTOR_V1:
+      purpose: >
+        SELL_WATERFALL_ENGINE_V1의 동일 hard_precedence 단계 안에서 후보 lot을 점수화하고,
+        세금 회피 효과·재진입 비용·놓친 상승분까지 포함한 다목적(Pareto) 비교로
+        동순위 후보 중 어느 lot을 먼저 매도할지 결정론적으로 선택한다.
+        (governance/todo/v8_9_p0_adoption_plan.yaml P0-2.1,
+        source: suggest/quant_investment_engine_v8_9_portfolio_optimizer_canonical_refactored.yaml:sell_and_cash_repair_optimizer_v8_9)
+      applicable: SELL_WATERFALL_ENGINE_V1의 동일 stage 내 후보가 2개 이상일 때.
+      inputs:
+      - field: avoided_tail_loss_krw
+        unit: KRW
+      - field: cash_repair_benefit_krw
+        unit: KRW
+      - field: concentration_reduction_benefit_krw
+        unit: KRW
+      - field: tax_loss_benefit_krw
+        unit: KRW
+      - field: tax_fee_slippage_krw
+        unit: KRW
+      - field: reentry_cost_krw
+        unit: KRW
+      - field: missed_upside_penalty_krw
+        unit: KRW
+      expression: >
+        LOT_SELL_SCORE_KRW = avoided_tail_loss_krw + cash_repair_benefit_krw + concentration_reduction_benefit_krw
+        + tax_loss_benefit_krw - tax_fee_slippage_krw - reentry_cost_krw - missed_upside_penalty_krw
+      output:
+        field: lot_sell_score_krw
+        unit: KRW
+      pareto_dominance_rule:
+        dominates_if: >
+          A가 모든 maximize 목표(avoided_tail_loss_krw, cash_repair_benefit_krw, concentration_reduction_benefit_krw,
+          tax_loss_benefit_krw)에서 B 이상이고 모든 minimize 목표(tax_fee_slippage_krw, reentry_cost_krw,
+          missed_upside_penalty_krw)에서 B 이하이며, 적어도 한 항목에서 우월하면 A dominates B.
+        tie_breaker_if_no_dominance: [lot_sell_score_krw 높은 순, tax_fee_slippage_krw 낮은 순, reentry_cost_krw 낮은 순]
+      missing_policy: missed_upside_penalty_krw·tax_loss_benefit_krw 미확인 시 0(보수적 하한). DATA_MISSING으로 표기.
+      canonical_ref: spec/risk/portfolio_exposure.yaml:sell_priority_engine.candidate_scoring
+      implementation: tools/build_sell_waterfall_engine_v4.py
+      version: 2026-06-17_P0_v8_9_adoption
+    FORECAST_SIMULATION_ENGINE_V1:
+      purpose: >
+        개별 종목의 점 추정 기대수익률이 아니라 레짐별 손익분포에서 CE70(30%분위)·CE90(10%분위)·
+        CVaR95(95% 신뢰구간 꼬리손실 평균)를 산출한다. 표본 부족 시 가짜 분포를 만들지 않고
+        WATCH_ONLY 또는 DATA_MISSING으로 정직하게 반환한다.
+        (governance/todo/v8_9_p0_adoption_plan.yaml P0-3.1,
+        source: suggest/quant_investment_engine_v8_9_portfolio_optimizer_canonical_refactored.yaml:forecast_and_simulation_engine_v8_9)
+      applicable: PORTFOLIO_TRANSITION_UTILITY_V1의 ce70_net_profit_krw 입력 직전.
+      inputs:
+      - field: net_profit_distribution_after_tax_fee_slippage
+        source: spec/29_backtest_harness_contract.yaml:current_metrics
+        unit: list_of_KRW
+      - field: sample_count_total
+        unit: count
+      - field: sample_count_same_regime
+        unit: count
+      - field: execution_mode
+        unit: enum
+      minimum_sample_rules:
+        AUDIT_ONLY: {sample_count_total_min: 0, sample_count_same_regime_min: 0}
+        SHADOW: {sample_count_total_min: 30, sample_count_same_regime_min: 10}
+        PILOT: {sample_count_total_min: 80, sample_count_same_regime_min: 20}
+        LIVE_LIMITED: {sample_count_total_min: 150, sample_count_same_regime_min: 30}
+        LIVE_FULL: {sample_count_total_min: 300, sample_count_same_regime_min: 50}
+        agents_md_cross_check: "AGENTS.md §6b: Live T+20 표본 30건 미만이면 active/PASS_100 승격 금지"
+      expression:
+        ce70_net_profit_krw: quantile(net_profit_distribution_after_tax_fee_slippage, 0.30)
+        ce90_net_profit_krw: quantile(net_profit_distribution_after_tax_fee_slippage, 0.10)
+        cvar95_loss_krw: mean(losses beyond 95th percentile loss threshold in net_profit_distribution_after_tax_fee_slippage)
+      output:
+        field: ce70_net_profit_krw
+        unit: KRW_or_null
+      missing_policy: 표본이 minimum_sample_rules 미달이면 모든 출력 null + gate=WATCH_ONLY. 0으로 대체 금지.
+      canonical_ref: spec/29_backtest_harness_contract.yaml:current_metrics.walk_forward
+      implementation: tools/build_forecast_simulation_engine_v1.py
+      version: 2026-06-17_P0_v8_9_adoption
+    SECTOR_EXPOSURE_GRAPH_V1:
+      purpose: >
+        섹터를 L1:L2:L3:L4 canonical ID로 분류하고 ETF 구성종목을 lookthrough하여 직접보유와
+        합산한 실질노출을 계산하며, 테마 간 중복 베타를 residualize한다.
+        (governance/todo/v8_9_p1_adoption_plan.yaml P1-A.1)
+      canonical_sector_id_format: 'L1:L2:L3:L4, 예: EQ:TECH:SEMIS:HBM'
+      inputs:
+      - field: direct_weight_pct
+        unit: percent
+      - field: etf_constituents_json
+        unit: json
+      - field: etf_weight_pct
+        unit: percent
+      - field: sector_id
+        unit: string
+      - field: peer_sector_betas
+        unit: list_of_ratio
+      expression:
+        lookthrough_etf_weight_pct: "sum(constituent.weight_pct * etf_weight_pct / 100 for constituent in etf_constituents_json if constituent.sector_id == sector_id)"
+        sector_family_total_pct: "direct_weight_pct + lookthrough_etf_weight_pct"
+      output:
+        field: sector_family_total_pct
+        unit: percent
+      missing_policy: etf_constituents_json 미확인 시 ETF_BUY_BLOCKED. lookthrough를 0으로 추정 금지.
+      canonical_ref: spec/risk/portfolio_exposure.yaml:duplicate_exposure_rule
+      implementation: tools/build_sector_exposure_graph_v1.py
+      version: 2026-06-17_P1_v8_9_adoption
+    LEADER_LIFECYCLE_GATE_V1:
+      purpose: >
+        종목의 시장 주도력을 CAPTAIN/CORE_LEADER/ENABLER/CYCLICAL_BETA/LAGGARD/DISTRIBUTION_RISK로
+        분류하고 승급·강등을 결정론적으로 평가한다.
+        (governance/todo/v8_9_p1_adoption_plan.yaml P1-A.2)
+      roles: [CAPTAIN, CORE_LEADER, ENABLER, CYCLICAL_BETA, LAGGARD, DISTRIBUTION_RISK]
+      inputs:
+      - field: relative_strength_leads_sector
+        unit: boolean
+      - field: volume_quality_confirmed
+        unit: boolean
+      - field: above_ma60_or_reclaim_confirmed
+        unit: boolean
+      - field: earnings_revision_status
+        unit: 'enum: positive | neutral | negative'
+      - field: institutional_flow_status
+        unit: 'enum: accumulation | neutral | distribution'
+      - field: current_role
+        unit: enum
+      output:
+        field: leader_role
+        unit: enum
+      missing_policy: 입력 결측 시 current_role 유지. 임의 승급/강등 금지.
+      canonical_ref: spec/strategy/leader_scan.yaml
+      implementation: tools/build_sector_exposure_graph_v1.py
+      version: 2026-06-17_P1_v8_9_adoption
+    EXECUTION_CAPACITY_LADDER_V1:
+      purpose: >
+        계획된 주문금액이 종목의 실제 체결 가능 용량을 초과하지 않도록 캡핑하고,
+        broker_microstructure_packet이 없으면 주문 계획을 차단한다.
+        (governance/todo/v8_9_p1_adoption_plan.yaml P1-B.1)
+      inputs:
+      - field: planned_order_amount_krw
+        unit: KRW
+      - field: avg_trade_value_20d_krw
+        unit: KRW
+      - field: intraday_trade_value_krw
+        unit: KRW
+      - field: orderbook_top3_depth_krw
+        unit: KRW
+      - field: spread_bps
+        unit: basis_points
+      expression: >
+        order_capacity_krw = min(planned_order_amount_krw, avg_trade_value_20d_krw * 0.003,
+        intraday_trade_value_krw * 0.01, orderbook_top3_depth_krw * 0.30)
+      output:
+        field: order_capacity_krw
+        unit: KRW
+      missing_policy: broker_microstructure_packet 필드 결측 시 EXECUTION_PLAN_BLOCKED. 추정 금지.
+      canonical_ref: spec/05_position_sizing.yaml
+      implementation: tools/build_execution_capacity_ladder_v1.py
+      version: 2026-06-17_P1_v8_9_adoption
+    MODEL_GOVERNANCE_KILL_SWITCH_V1:
+      purpose: >
+        data_quarantine_rate, implementation_shortfall, T5_hit_rate, calibration_error,
+        drawdown 5개 지표를 감시해 기준 이탈 시 execution_mode를 자동으로 한 단계 강등한다.
+        (governance/todo/v8_9_p1_adoption_plan.yaml P1-C.1)
+      promotion_ladder: [AUDIT_ONLY, SHADOW, PILOT, LIVE_LIMITED, LIVE_FULL]
+      inputs:
+      - field: data_quarantine_rate_pct
+        unit: percent
+      - field: implementation_shortfall_ratio
+        unit: ratio
+      - field: t5_hit_rate_pct
+        unit: percent
+      - field: t5_sample_count
+        unit: count
+      - field: calibration_error
+        unit: ratio
+      - field: calibration_error_limit
+        unit: ratio
+      - field: account_mdd_pct
+        unit: percent
+      - field: account_mdd_budget_pct
+        unit: percent
+      kill_switch_conditions:
+      - id: data_quarantine_rate_above_5pct
+        condition: data_quarantine_rate_pct > 5.0
+      - id: implementation_shortfall_above_2x_expected
+        condition: implementation_shortfall_ratio > 2.0
+      - id: t5_hit_rate_below_50pct_for_30_trades
+        condition: t5_sample_count >= 30 AND t5_hit_rate_pct < 50.0
+      - id: calibration_error_above_limit
+        condition: calibration_error > calibration_error_limit
+      - id: unexpected_drawdown_breach
+        condition: account_mdd_pct > account_mdd_budget_pct
+      output:
+        field: execution_mode
+        unit: enum
+      missing_policy: 입력 결측 시 평가 가능한 지표만으로 판정. 전부 결측이면 execution_mode 변경 없음(DATA_MISSING).
+      canonical_ref: spec/57_shadow_promotion_scorecard.yaml
+      implementation: tools/build_model_governance_kill_switch_v1.py
+      version: 2026-06-17_P1_v8_9_adoption
+    SCENARIO_SHOCK_MATRIX_V1:
+      purpose: >
+        base_case 분포에 adverse/liquidity_drought/crisis/fx_shock/tax_cost 5개 스트레스를
+        결정론적으로 적용해 시나리오별 CE70/CVaR95를 산출한다.
+        (governance/todo/v8_9_p2_adoption_plan.yaml P2-A)
+      scenario_definitions:
+        base_case: {shock_multiplier: 1.0}
+        adverse_case: {shock_multiplier: 1.5}
+        liquidity_drought_case: {shock_multiplier: 1.3, capacity_derate_pct: 40}
+        crisis_case: {shock_multiplier: 2.0, correlation_to_one: true}
+        fx_shock_case: {shock_multiplier: 1.2, applies_only_to: foreign_assets}
+        tax_cost_case: {shock_multiplier: 1.0, additional_cost_pct: 5}
+      inputs:
+      - field: net_profit_distribution_after_tax_fee_slippage
+        unit: list_of_KRW
+      - field: scenario_id
+        unit: enum
+      output:
+        field: scenario_results
+        unit: 'list_of_{scenario_id, scenario_ce70_krw, scenario_cvar95_krw}'
+      missing_policy: 분포 없으면 전체 DATA_MISSING. 시나리오별 임의 분포 생성 금지.
+      canonical_ref: spec/formulas/domains/simulation.yaml:FORECAST_SIMULATION_ENGINE_V1
+      implementation: tools/build_scenario_shock_matrix_v1.py
+      version: 2026-06-17_P2_v8_9_adoption
+    TRANSITION_SET_ENUMERATOR_V1:
+      purpose: >
+        candidate 1건씩이 아니라 조합(transition_set) 단위로 hard_constraint_pass와
+        transition_utility_krw를 재평가해, 개별로는 통과하는 후보들의 조합이 cash_floor·
+        concentration cap을 넘는 경우를 차단한다.
+        (governance/todo/v8_9_p2_adoption_plan.yaml P2-B)
+      inputs:
+      - field: evaluated_candidates
+        unit: list_of_object
+      - field: max_set_size
+        unit: count
+        default: 3
+      output:
+        field: selected_transition_set
+        unit: list_of_candidate_id
+      missing_policy: evaluated_candidates 비어있으면 selected_transition_set=[] + NO_TRADE.
+      canonical_ref: spec/formulas/domains/portfolio.yaml:PORTFOLIO_TRANSITION_UTILITY_V1
+      implementation: tools/build_transition_set_enumerator_v1.py
+      version: 2026-06-17_P2_v8_9_adoption
+    IMMUTABLE_DECISION_LEDGER_V1:
+      purpose: >
+        모든 의사결정을 append-only로 기록한다. 동일 decision_id 재기록은 거부하고,
+        T1/T5/T20/MAE/MFE는 원본 레코드를 수정하지 않고 별도 append로만 추가한다.
+        (governance/todo/v8_9_p2_adoption_plan.yaml P2-C)
+      inputs:
+      - field: decision_id
+        unit: string
+      - field: input_hash_bundle
+        unit: string
+      - field: execution_mode
+        unit: enum
+      - field: candidate_ids
+        unit: list_of_string
+      - field: selected_transition_id
+        unit: string_or_null
+      required_fields:
+      - decision_id
+      - timestamp
+      - engine_version
+      - input_hash_bundle
+      - execution_mode
+      - candidate_ids
+      - selected_transition_id
+      - hard_blocks
+      - transition_utility_krw
+      - operator_override
+      - order_ids
+      - fill_prices
+      - slippage
+      - T1_return
+      - T5_return
+      - T20_return
+      - MAE
+      - MFE
+      output:
+        field: ledger_append_status
+        unit: 'enum: APPENDED | DUPLICATE_DECISION_ID | REJECTED_MISSING_FIELDS'
+      missing_policy: required_fields 결측 시 REJECTED_MISSING_FIELDS.
+      canonical_ref: spec/formulas/domains/portfolio.yaml:PORTFOLIO_TRANSITION_UTILITY_V1
+      implementation: tools/build_immutable_decision_ledger_v1.py
+      version: 2026-06-17_P2_v8_9_adoption
+    EXECUTION_PLAN_COMPILER_V1:
+      purpose: >
+        order_capacity_krw를 30/30/40 LIMIT_SPLIT 슬라이스로 컴파일하고, 슬라이스 실행 직전마다
+        cash_floor·capacity·spread를 재검증해 cancel_remaining_if 조건 충족 시 잔여 슬라이스를 취소한다.
+        (governance/todo/v8_9_p2_adoption_plan.yaml P2-D)
+      inputs:
+      - field: order_capacity_krw
+        unit: KRW
+      - field: revalidation_snapshot
+        unit: json
+      - field: baseline_snapshot
+        unit: json
+      cancel_remaining_if:
+      - spread_widens_beyond_limit: "revalidation_snapshot.spread_bps > baseline_snapshot.spread_bps * 1.5"
+      - cash_floor_after_fill_breached: "revalidation_snapshot.cash_floor_pct < required_cash_pct"
+      - orderbook_capacity_collapses: "revalidation_snapshot.order_capacity_krw < baseline_snapshot.order_capacity_krw * 0.5"
+      output:
+        field: compiled_slices
+        unit: 'list_of_{slice_index, slice_amount_krw, status}'
+      missing_policy: order_capacity_krw 또는 baseline_snapshot 결측 시 EXECUTION_PLAN_BLOCKED.
+      canonical_ref: spec/formulas/domains/execution.yaml:EXECUTION_CAPACITY_LADDER_V1
+      implementation: tools/build_execution_plan_compiler_v1.py
+      version: 2026-06-17_P2_v8_9_adoption
+    STATE_VECTOR_CONSTRUCTOR_V1:
+      purpose: >
+        holdings, cash, tax_lots, sector_graph, factor_exposures, macro_regime_probabilities를
+        단일 state_vector로 통합한다. 결측 component는 null로 유지하고 추정 보완 금지.
+        (governance/todo/v8_9_p3_adoption_plan.yaml P3-A)
+      inputs:
+      - field: cash_ladder
+        unit: json
+      - field: positions
+        unit: list_of_object
+      - field: sector_exposure_graph
+        unit: list_of_object
+      - field: factor_exposures
+        unit: list_of_object
+      - field: tax_lots
+        unit: list_of_object
+      - field: risk_bucket_weights
+        unit: object
+      - field: macro_regime_probabilities
+        unit: object
+      - field: goal_progress_pct
+        unit: percent
+      output:
+        field: state_vector
+        unit: object
+      missing_policy: 결측 component는 null + missing_components 기록. 추정 보완 금지.
+      canonical_ref: spec/formulas/domains/portfolio.yaml:PORTFOLIO_TRANSITION_UTILITY_V1
+      implementation: tools/build_state_vector_constructor_v1.py
+      version: 2026-06-17_P3_v8_9_adoption
+    REBALANCE_CADENCE_GATE_V1:
+      purpose: >
+        주간/1·11·21일 점검을 의무 실행하되, transition_utility_after_tax_cost가 양수이거나
+        hard_risk_block이 active일 때만 실제 리밸런싱 실행을 허용한다.
+        (governance/todo/v8_9_p3_adoption_plan.yaml P3-D)
+      mandatory_schedule:
+        weekly_days: [SATURDAY, SUNDAY]
+        monthly_mid_check_days: [1, 11, 21]
+      inputs:
+      - field: today_date
+        unit: date
+      - field: transition_utility_after_tax_cost_krw
+        unit: number_or_null
+      - field: hard_risk_block_active
+        unit: boolean
+      output:
+        field: rebalance_execution_allowed
+        unit: boolean
+      missing_policy: 양쪽 입력 모두 결측 시 rebalance_execution_allowed=false + DATA_MISSING.
+      canonical_ref: spec/risk/aggregate_risk.yaml
+      implementation: tools/build_rebalance_cadence_gate_v1.py
+      version: 2026-06-17_P3_v8_9_adoption
+    WALK_FORWARD_BOOTSTRAP_V1:
+      purpose: >
+        historical_returns에서 walk-forward(비복원, in/out-of-sample 분리) 및 regime-matched
+        (동일 레짐 필터 + 복원추출) 리샘플링으로 net_profit_distribution을 생성한다.
+        (governance/todo/v8_9_p3_adoption_plan.yaml P3-B)
+      inputs:
+      - field: historical_returns
+        unit: list_of_object
+      - field: current_regime_state
+        unit: string
+      - field: bootstrap_method
+        unit: enum
+      output:
+        field: net_profit_distribution_after_tax_fee_slippage
+        unit: list_of_KRW_or_null
+      missing_policy: historical_returns 결측 또는 표본 1건 이하면 null + DATA_MISSING.
+      canonical_ref: spec/29_backtest_harness_contract.yaml:current_metrics.walk_forward
+      implementation: tools/build_walk_forward_bootstrap_v1.py
+      version: 2026-06-17_P3_v8_9_adoption
+    WEEKLY_LEGACY_TRANSFER_PLAN_V1:
+      purpose: >
+        주간 레거시→CMA 이전 계획을 입금 확인 전까지 deployable_cash_krw에 합산하지 않는다.
+        (governance/todo/v8_9_p3_adoption_plan.yaml P3-E)
+      inputs:
+      - field: weekly_legacy_to_cma_transfer_plan_krw
+        unit: KRW
+        default: 4000000
+      - field: transfer_confirmed
+        unit: boolean
+      - field: transfer_confirmed_amount_krw
+        unit: KRW_or_null
+      output:
+        field: deployable_cash_contribution_krw
+        unit: KRW
+      missing_policy: transfer_confirmed null이면 false로 간주.
+      canonical_ref: spec/risk/portfolio_exposure.yaml:cash_floor
+      implementation: tools/build_weekly_legacy_transfer_plan_v1.py
+      version: 2026-06-17_P3_v8_9_adoption
     SELL_EXECUTION_TIMING_V1:
       purpose: '장중 가격 움직임에 따라 매도 주문 유형과 타이밍을 결정론적으로 판정. 장초반 패닉 매도, 반등 직전 저점 투매 방지.
 
@@ -4530,6 +4952,44 @@ formula_registry:
       implementation: tools/build_predictive_alpha_dialectic_engine_v2.py:NF1
       calibration_ref: spec/calibration_registry.yaml:NF1 (EXPERT_PRIOR)
       version: 2026-06-04_NF1
+    PORTFOLIO_TRANSITION_UTILITY_V1:
+      purpose: >
+        개별 매수·매도 추천이 아니라 포트폴리오 전체의 사후 상태(전환 후 cash floor, 집중도, CVaR,
+        세후비용, 회전율)를 비교해 단일 최선 전환 또는 NO_TRADE를 결정론적으로 선택한다.
+        (governance/todo/v8_9_p0_adoption_plan.yaml P0-1.2,
+        source: suggest/quant_investment_engine_v8_9_portfolio_optimizer_canonical_refactored.yaml:portfolio_transition_optimizer_v8_9)
+      default_action: NO_TRADE
+      inputs:
+      - field: ce70_net_profit_krw
+        source: Temp/forecast_simulation_engine_v1.json
+        unit: KRW
+        missing_policy: DATA_MISSING — candidate excluded, not assumed zero
+      - field: tax_fee_slippage_krw
+        source: Temp/sell_waterfall_engine_v4.json
+        unit: KRW
+      - field: cash_repair_benefit_krw
+        source: Temp/smart_cash_recovery_v9.json
+        unit: KRW
+      - field: concentration_reduction_benefit_krw
+        unit: KRW
+      - field: turnover_penalty_krw
+        unit: KRW
+      expression: >
+        transition_utility_krw = ce70_net_profit_krw - tax_fee_slippage_krw - cvar_penalty_krw
+        - drawdown_penalty_krw + cash_repair_benefit_krw + concentration_reduction_benefit_krw
+        - turnover_penalty_krw
+      output:
+        field: transition_utility_krw
+        unit: KRW
+      deterministic_fallbacks:
+        missing_optimizer_inputs: NO_TRADE_AND_QUARANTINE
+        solver_failure: NO_TRADE_AND_LOG_SOLVER_FAILURE
+        rank_tie: choose_lower_turnover_lower_tax_lower_marginal_risk_contribution
+        conflicting_runtime_packets: BLOCK_AND_REQUIRE_MANIFEST_REPAIR
+      missing_policy: hard_constraint_input_missing 시 NO_TRADE_AND_QUARANTINE
+      implementation: tools/build_portfolio_transition_optimizer_v1.py
+      canonical_ref: spec/formulas/domains/portfolio.yaml:PORTFOLIO_TRANSITION_UTILITY_V1
+      version: 2026-06-17_P0_v8_9_adoption
     REBOUND_CAPTURE_THESIS_FACTOR_V1:
       purpose: 과매도 반등 진입을 thesis 팩터로 명시 — 영구 약세편향 해소 (Direction SFP1)
       agents_md_ref: 'Direction SFP1: SINGLE_FACTOR_DOMINANCE_CAP_V1 — REBOUND_CAPTURE

spec/formula_golden_cases_v4.yaml

@@ -6,6 +6,254 @@ note: >
 
 golden_cases:
 
+  # ── PORTFOLIO_TRANSITION_UTILITY_V1: v8.9 P0 채택 (governance/todo/v8_9_p0_adoption_plan.yaml) ──
+  - formula_id: PORTFOLIO_TRANSITION_UTILITY_V1
+    id: GV4_PTU_001
+    name: V89_002 — 전환 입력 없음 (decision_packet 없음) → NO_TRADE 기본값
+    input: {decision_packet: null, sell_waterfall: null}
+    expected: {final_action: NO_TRADE, gate: NO_TRADE_AND_QUARANTINE}
+
+  - formula_id: PORTFOLIO_TRANSITION_UTILITY_V1
+    id: GV4_PTU_002
+    name: V89_048 — candidate 전부 hard_constraint_pass=false (solver_failure 등가) → NO_TRADE
+    input: {candidates: [{hard_constraint_pass: false}]}
+    expected: {final_action: NO_TRADE, selected_transition: null}
+
+  - formula_id: PORTFOLIO_TRANSITION_UTILITY_V1
+    id: GV4_PTU_003
+    name: V89_049 — utility 동률 후보 → 낮은 turnover 후보 선택
+    input: {candidates: [{transition_utility_krw: 100000, turnover_pct: 5}, {transition_utility_krw: 100000, turnover_pct: 2}]}
+    expected: {tie_breaker: lower_turnover}
+
+  - formula_id: PORTFOLIO_TRANSITION_UTILITY_V1
+    id: GV4_PTU_004
+    name: V89_050 — 충돌하는 runtime packet → BLOCK_AND_REQUIRE_MANIFEST_REPAIR
+    input: {conflicting_packets: true}
+    expected: {final_action: NO_TRADE, reason_code: BLOCK_AND_REQUIRE_MANIFEST_REPAIR}
+
+  # ── SELL_LOT_PARETO_SELECTOR_V1: v8.9 P0 채택 (governance/todo/v8_9_p0_adoption_plan.yaml) ──
+  - formula_id: SELL_LOT_PARETO_SELECTOR_V1
+    id: GV4_SLP_001
+    name: V89_029 — deconcentration_trim 후보가 cash_repair 후보를 dominate
+    input: {candidate_a: {avoided_tail_loss_krw: 100000, tax_fee_slippage_krw: 10000}, candidate_b: {avoided_tail_loss_krw: 50000, tax_fee_slippage_krw: 20000}}
+    expected: {dominates: true, pareto_rank_a: 1}
+
+  - formula_id: SELL_LOT_PARETO_SELECTOR_V1
+    id: GV4_SLP_002
+    name: V89_030 — profit_lock 후보, missed_upside_penalty 미확인 시 0 보수적 하한 적용
+    input: {missed_upside_penalty_krw: null}
+    expected: {missed_upside_penalty_krw_used: 0.0, missing_fields_includes: missed_upside_penalty_krw}
+
+  - formula_id: SELL_LOT_PARETO_SELECTOR_V1
+    id: GV4_SLP_003
+    name: V89_031 — tax_drag_too_high, tax_fee_slippage가 benefit을 초과하면 score 음수
+    input: {avoided_tail_loss_krw: 10000, tax_fee_slippage_krw: 50000}
+    expected: {lot_sell_score_krw: -40000.0}
+
+  # ── FORECAST_SIMULATION_ENGINE_V1: v8.9 P0 채택 (governance/todo/v8_9_p0_adoption_plan.yaml) ──
+  - formula_id: FORECAST_SIMULATION_ENGINE_V1
+    id: GV4_FSE_001
+    name: V89_013 — 분포 없음(missing_CVaR) → QUARANTINE 등가 WATCH_ONLY, null 출력
+    input: {distribution: null, execution_mode: SHADOW}
+    expected: {gate: WATCH_ONLY, cvar95_loss_krw: null, ce70_net_profit_krw: null}
+
+  - formula_id: FORECAST_SIMULATION_ENGINE_V1
+    id: GV4_FSE_002
+    name: V89_014 — same_regime 표본 SHADOW 기준(10건) 미달 → WATCH_ONLY
+    input: {sample_count_total: 30, sample_count_same_regime: 5, execution_mode: SHADOW}
+    expected: {gate: WATCH_ONLY}
+
+  # ── SECTOR_EXPOSURE_GRAPH_V1 / LEADER_LIFECYCLE_GATE_V1: v8.9 P1 채택 (governance/todo/v8_9_p1_adoption_plan.yaml) ──
+  - formula_id: SECTOR_EXPOSURE_GRAPH_V1
+    id: GV4_SEG_001
+    name: V89_044 — sector_overlap, ETF lookthrough가 direct weight와 합산되어 cap 초과 감지
+    input: {direct_weight_pct: 20.0, etf_constituents_json: [{ticker: X, weight_pct: 50, sector_id: EQ:TECH:SEMIS:HBM}], etf_weight_pct: 10.0, sector_id: EQ:TECH:SEMIS:HBM}
+    expected: {sector_family_total_pct: 25.0, gate: PASS}
+
+  - formula_id: SECTOR_EXPOSURE_GRAPH_V1
+    id: GV4_SEG_002
+    name: V89_045 — ETF_direct_overlap, constituents 미확인 시 ETF_BUY_BLOCKED (0 추정 금지)
+    input: {etf_constituents_json: null, etf_weight_pct: null}
+    expected: {gate: ETF_BUY_BLOCKED, sector_family_total_pct: null}
+
+  - formula_id: LEADER_LIFECYCLE_GATE_V1
+    id: GV4_LLG_001
+    name: V89_046 — leader_distribution, CAPTAIN이 MA60 이탈+distribution이면 즉시 DISTRIBUTION_RISK
+    input: {current_role: CAPTAIN, above_ma60_or_reclaim_confirmed: false, institutional_flow_status: distribution}
+    expected: {leader_role: DISTRIBUTION_RISK, role_changed: true}
+
+  # ── EXECUTION_CAPACITY_LADDER_V1: v8.9 P1 채택 (governance/todo/v8_9_p1_adoption_plan.yaml) ──
+  - formula_id: EXECUTION_CAPACITY_LADDER_V1
+    id: GV4_ECL_001
+    name: V89_019 — broker_packet_missing, 필드 결측 시 EXECUTION_PLAN_BLOCKED (capacity 0 추정 금지)
+    input: {avg_trade_value_20d_krw: null, intraday_trade_value_krw: 500000000, orderbook_top3_depth_krw: 100000000, spread_bps: 5}
+    expected: {gate: EXECUTION_PLAN_BLOCKED, order_capacity_krw: null}
+
+  - formula_id: EXECUTION_CAPACITY_LADDER_V1
+    id: GV4_ECL_002
+    name: V89_020 — capacity_too_low, 계획 주문금액이 용량보다 크면 ORDER_SIZE_CAPPED
+    input: {planned_order_amount_krw: 50000000, avg_trade_value_20d_krw: 1000000000, intraday_trade_value_krw: 500000000, orderbook_top3_depth_krw: 100000000, spread_bps: 5}
+    expected: {gate: ORDER_SIZE_CAPPED, order_capacity_krw: 3000000.0}
+
+  - formula_id: EXECUTION_CAPACITY_LADDER_V1
+    id: GV4_ECL_003
+    name: V89_022 — spread_widens, 기준 spread의 1.5배 초과 시 잔여 slice 취소
+    input: {current_spread_bps: 16, baseline_spread_bps: 10}
+    expected: {cancel_remaining: true}
+
+  # ── MODEL_GOVERNANCE_KILL_SWITCH_V1: v8.9 P1 채택 (governance/todo/v8_9_p1_adoption_plan.yaml) ──
+  - formula_id: MODEL_GOVERNANCE_KILL_SWITCH_V1
+    id: GV4_MGK_001
+    name: V89_035 — T5 hit rate 50% 미달(30건 이상) → kill switch 발동, 1단계 강등
+    input: {t5_hit_rate_pct: 40.0, t5_sample_count: 30, current_mode: PILOT}
+    expected: {kill_switch_triggered: true, execution_mode: SHADOW}
+
+  - formula_id: MODEL_GOVERNANCE_KILL_SWITCH_V1
+    id: GV4_MGK_002
+    name: V89_036 — implementation_shortfall 기대치 2배 초과 → kill switch 발동
+    input: {implementation_shortfall_ratio: 2.5}
+    expected: {kill_switch_triggered: true, reason_code: implementation_shortfall_above_2x_expected}
+
+  - formula_id: MODEL_GOVERNANCE_KILL_SWITCH_V1
+    id: GV4_MGK_003
+    name: V89_037 — data_quarantine_rate 5% 초과 → kill switch 발동
+    input: {data_quarantine_rate_pct: 7.0}
+    expected: {kill_switch_triggered: true, reason_code: data_quarantine_rate_above_5pct}
+
+  # ── SCENARIO_SHOCK_MATRIX_V1: v8.9 P2 채택 (governance/todo/v8_9_p2_adoption_plan.yaml) ──
+  - formula_id: SCENARIO_SHOCK_MATRIX_V1
+    id: GV4_SSM_001
+    name: V89_010 — candidate_good_portfolio_bad, crisis_case가 base_case보다 손실 확대
+    input: {scenario_id: crisis_case, base_distribution_present: true}
+    expected: {gate: PASS, crisis_worse_than_base: true}
+
+  - formula_id: SCENARIO_SHOCK_MATRIX_V1
+    id: GV4_SSM_002
+    name: 분포 없음 → 전체 시나리오 DATA_MISSING (가짜 분포 생성 금지)
+    input: {distribution: null}
+    expected: {gate: DATA_MISSING, scenario_ce70_krw: null}
+
+  # ── TRANSITION_SET_ENUMERATOR_V1: v8.9 P2 채택 (governance/todo/v8_9_p2_adoption_plan.yaml) ──
+  - formula_id: TRANSITION_SET_ENUMERATOR_V1
+    id: GV4_TSE_001
+    name: V89_010 — 개별 PASS 후보 2개의 조합이 cash_floor를 위반하면 조합 거부, 단일 후보만 선택
+    input: {candidates: [{id: A, cash_floor_delta: 1.0}, {id: B, cash_floor_delta: -2.0}]}
+    expected: {selected_transition_set: [A], rejected_sets_count_gte: 1}
+
+  - formula_id: TRANSITION_SET_ENUMERATOR_V1
+    id: GV4_TSE_002
+    name: V89_048 — candidate_actions 없음 → NO_TRADE, 빈 조합 임의 생성 금지
+    input: {candidate_actions: []}
+    expected: {gate: NO_TRADE, selected_transition_set: []}
+
+  - formula_id: TRANSITION_SET_ENUMERATOR_V1
+    id: GV4_TSE_003
+    name: V89_049 — utility 동률 시 더 작은 조합(낮은 복잡도) 선택
+    input: {set_a_utility: 100000, set_a_size: 1, set_b_utility: 100000, set_b_size: 2}
+    expected: {selected: set_a}
+
+  # ── IMMUTABLE_DECISION_LEDGER_V1: v8.9 P2 채택 (governance/todo/v8_9_p2_adoption_plan.yaml) ──
+  - formula_id: IMMUTABLE_DECISION_LEDGER_V1
+    id: GV4_IDL_001
+    name: V89_039 — operator_override 기록 필수, 신규 decision_id append 성공
+    input: {decision_id: D1, engine_version: PORTFOLIO_TRANSITION_UTILITY_V1, input_hash_bundle: abc123, execution_mode: NO_TRADE, candidate_ids: [A]}
+    expected: {ledger_append_status: APPENDED}
+
+  - formula_id: IMMUTABLE_DECISION_LEDGER_V1
+    id: GV4_IDL_002
+    name: 동일 decision_id 재기록 시도 → DUPLICATE_DECISION_ID (불변성 보장)
+    input: {decision_id: D1, repeat: true}
+    expected: {ledger_append_status: DUPLICATE_DECISION_ID}
+
+  - formula_id: IMMUTABLE_DECISION_LEDGER_V1
+    id: GV4_IDL_003
+    name: required_fields 결측 시 REJECTED_MISSING_FIELDS (빈값 채움 금지)
+    input: {decision_id: null}
+    expected: {ledger_append_status: REJECTED_MISSING_FIELDS}
+
+  # ── EXECUTION_PLAN_COMPILER_V1: v8.9 P2 채택 (governance/todo/v8_9_p2_adoption_plan.yaml) ──
+  - formula_id: EXECUTION_PLAN_COMPILER_V1
+    id: GV4_EPC_001
+    name: V89_021 — partial_fill, slice 1 체결 후 정상 조건이면 slice 2/3도 컴파일
+    input: {baseline_spread_bps: 10, revalidation_spread_bps: 10}
+    expected: {all_slices_compiled: true}
+
+  - formula_id: EXECUTION_PLAN_COMPILER_V1
+    id: GV4_EPC_002
+    name: V89_022 — spread_widens, slice 2 직전 spread 1.5배 초과 시 잔여 slice 취소
+    input: {baseline_spread_bps: 10, slice2_revalidation_spread_bps: 20}
+    expected: {slice_1_status: COMPILED, slice_2_status: CANCELLED, slice_3_status: CANCELLED}
+
+  - formula_id: EXECUTION_PLAN_COMPILER_V1
+    id: GV4_EPC_003
+    name: V89_023 — gap_up_chase 등가, order_capacity_krw 결측 시 전체 EXECUTION_PLAN_BLOCKED
+    input: {order_capacity_krw: null}
+    expected: {gate: EXECUTION_PLAN_BLOCKED, compiled_slices: []}
+
+  # ── STATE_VECTOR_CONSTRUCTOR_V1: v8.9 P3 채택 (governance/todo/v8_9_p3_adoption_plan.yaml) ──
+  - formula_id: STATE_VECTOR_CONSTRUCTOR_V1
+    id: GV4_SVC_001
+    name: V89_052 — goal_far_from_target, 모든 component 결측 시 completeness 0%, 보완 금지
+    input: {cash_ladder: null, positions: null}
+    expected: {state_vector_completeness_pct: 0.0, missing_components_count: 8}
+
+  - formula_id: STATE_VECTOR_CONSTRUCTOR_V1
+    id: GV4_SVC_002
+    name: 일부 component만 존재해도 결측 항목만 null로 기록(다른 값으로 보완 금지)
+    input: {cash_ladder: present, positions: present, factor_exposures: null}
+    expected: {missing_components_includes: factor_exposures}
+
+  # ── WALK_FORWARD_BOOTSTRAP_V1: v8.9 P3 채택 (governance/todo/v8_9_p3_adoption_plan.yaml) ──
+  - formula_id: WALK_FORWARD_BOOTSTRAP_V1
+    id: GV4_WFB_001
+    name: V89_014 — same_regime_sample_low, 필터 결과 1건 이하 → DATA_MISSING (다른 레짐 대체 금지)
+    input: {current_regime_state: NEVER_SEEN_REGIME, historical_returns_count: 30}
+    expected: {gate: DATA_MISSING, net_profit_distribution_after_tax_fee_slippage: null}
+
+  - formula_id: WALK_FORWARD_BOOTSTRAP_V1
+    id: GV4_WFB_002
+    name: V89_048 — historical_returns 없음 → solver_failure 등가 DATA_MISSING
+    input: {historical_returns: null}
+    expected: {gate: DATA_MISSING, sample_count_total: 0}
+
+  # ── REBALANCE_CADENCE_GATE_V1: v8.9 P3 채택 (governance/todo/v8_9_p3_adoption_plan.yaml) ──
+  - formula_id: REBALANCE_CADENCE_GATE_V1
+    id: GV4_RCG_001
+    name: V89_032 — no_trade_band, 토요일 점검은 의무 emit되나 utility 음수+hard block 없음 → NO_TRADE
+    input: {check_date: 2026-06-20, transition_utility_after_tax_cost_krw: -5000, hard_risk_block_active: false}
+    expected: {review_emitted: true, rebalance_execution_allowed: false}
+
+  - formula_id: REBALANCE_CADENCE_GATE_V1
+    id: GV4_RCG_002
+    name: V89_033 — hard_block_overrides_band, utility 음수여도 hard_risk_block_active=true면 실행 허용
+    input: {check_date: 2026-06-20, transition_utility_after_tax_cost_krw: -5000, hard_risk_block_active: true}
+    expected: {rebalance_execution_allowed: true}
+
+  - formula_id: REBALANCE_CADENCE_GATE_V1
+    id: GV4_RCG_003
+    name: V89_053 — weekly_rebalance_required, 토/일은 항상 cadence_check_required=true
+    input: {check_date: 2026-06-20}
+    expected: {cadence_check_required: true, cadence_trigger_reason: weekly_rebalance_required}
+
+  - formula_id: REBALANCE_CADENCE_GATE_V1
+    id: GV4_RCG_004
+    name: V89_054 — mid_check_required, 매월 1/11/21일은 cadence_check_required=true
+    input: {check_date: 2026-06-11}
+    expected: {cadence_check_required: true, cadence_trigger_reason: mid_check_required}
+
+  # ── WEEKLY_LEGACY_TRANSFER_PLAN_V1: v8.9 P3 채택 (governance/todo/v8_9_p3_adoption_plan.yaml) ──
+  - formula_id: WEEKLY_LEGACY_TRANSFER_PLAN_V1
+    id: GV4_WLT_001
+    name: V89_005 — deployable_cash_negative, 입금 미확인 계획액은 deployable_cash에 0으로 기여
+    input: {weekly_legacy_to_cma_transfer_plan_krw: 4000000, transfer_confirmed: false}
+    expected: {deployable_cash_contribution_krw: 0.0, plan_status: PLANNED_NOT_DEPLOYABLE}
+
+  - formula_id: WEEKLY_LEGACY_TRANSFER_PLAN_V1
+    id: GV4_WLT_002
+    name: 입금 확인 시 확정액(계획액과 다를 수 있음)만 deployable_cash에 합산
+    input: {weekly_legacy_to_cma_transfer_plan_krw: 4000000, transfer_confirmed: true, transfer_confirmed_amount_krw: 3800000}
+    expected: {deployable_cash_contribution_krw: 3800000.0, plan_status: CONFIRMED_DEPLOYABLE}
+
   # ── STOP_BREACH_V1: profit_pct < -20% 경계값 3 케이스 ─────────────────────
   - formula_id: STOP_BREACH_V1
     id: GV4_STOP_001

spec/formulas/domains/cash.yaml

@@ -537,6 +537,73 @@ formulas:
     activation_threshold:
       min_t20_sample: 30
     retirement_condition: performance_degradation
+  SELL_LOT_PARETO_SELECTOR_V1:
+    purpose: >
+      SELL_WATERFALL_ENGINE_V1의 동일 hard_precedence 단계 안에서 후보 lot을 점수화하고,
+      세금 회피 효과·반등 후 재진입 비용·놓친 상승분까지 포함한 다목적(Pareto) 비교로
+      동순위 후보 중 어느 lot을 먼저 매도할지 결정론적으로 선택한다.
+      (governance/todo/v8_9_p0_adoption_plan.yaml P0-2.1,
+      source: suggest/quant_investment_engine_v8_9_portfolio_optimizer_canonical_refactored.yaml:sell_and_cash_repair_optimizer_v8_9)
+    applicable: SELL_WATERFALL_ENGINE_V1의 동일 stage 내 후보가 2개 이상일 때.
+    inputs:
+    - field: avoided_tail_loss_krw
+      unit: KRW
+    - field: cash_repair_benefit_krw
+      unit: KRW
+    - field: concentration_reduction_benefit_krw
+      unit: KRW
+    - field: tax_loss_benefit_krw
+      unit: KRW
+      note: 손실 lot 매도 시 세금 절감 효과(tax-loss harvesting). 비과세 계좌는 0.
+    - field: tax_fee_slippage_krw
+      unit: KRW
+    - field: reentry_cost_krw
+      unit: KRW
+      note: 매도 후 동일·유사 종목 재진입 시 예상 거래비용·스프레드 비용.
+    - field: missed_upside_penalty_krw
+      unit: KRW
+      note: 매도하지 않았다면 얻었을 상승분 추정치. CE70_NET_PROFIT_KRW 분포가 있으면 그 값을 사용하고, 없으면 0(추정 금지).
+    expression: >
+      LOT_SELL_SCORE_KRW = avoided_tail_loss_krw + cash_repair_benefit_krw + concentration_reduction_benefit_krw
+      + tax_loss_benefit_krw - tax_fee_slippage_krw - reentry_cost_krw - missed_upside_penalty_krw
+    output:
+      field: lot_sell_score_krw
+      unit: KRW
+    pareto_dominance_rule:
+      purpose: 동일 hard_precedence 단계 안에서 단일 점수만으로 비교하기 모호할 때 다목적 우위를 결정론적으로 판정.
+      objectives_maximize: [avoided_tail_loss_krw, cash_repair_benefit_krw, concentration_reduction_benefit_krw, tax_loss_benefit_krw]
+      objectives_minimize: [tax_fee_slippage_krw, reentry_cost_krw, missed_upside_penalty_krw]
+      dominates_if: >
+        candidate A가 모든 objectives_maximize 항목에서 B 이상이고 모든 objectives_minimize 항목에서 B 이하이며,
+        적어도 한 항목에서 A가 B보다 우월하면 A dominates B.
+      tie_breaker_if_no_dominance:
+      - lot_sell_score_krw 높은 순
+      - tax_fee_slippage_krw 낮은 순
+      - reentry_cost_krw 낮은 순
+    missing_policy:
+      missed_upside_penalty_krw: CE70_NET_PROFIT_KRW 분포 없으면 0 사용(추정 아님 — 보수적 하한). 0 사용 사실을 output에 명시.
+      tax_loss_benefit_krw: 계좌유형 미확인 시 0 (taxable 가정 금지, ISA/연금 비과세 가정도 금지 — DATA_MISSING 표기)
+    canonical_ref: spec/risk/portfolio_exposure.yaml:sell_priority_engine.candidate_scoring
+    implementation: tools/build_sell_waterfall_engine_v4.py
+    owner: quant_team
+    lifecycle_state: shadow
+    input_fields:
+    - avoided_tail_loss_krw
+    - cash_repair_benefit_krw
+    - concentration_reduction_benefit_krw
+    - tax_loss_benefit_krw
+    - tax_fee_slippage_krw
+    - reentry_cost_krw
+    - missed_upside_penalty_krw
+    output_fields:
+    - lot_sell_score_krw
+    golden_cases:
+    - V89_029_deconcentration_trim
+    - V89_030_profit_lock
+    - V89_031_tax_drag_too_high
+    activation_threshold:
+      min_t20_sample: 30
+    retirement_condition: performance_degradation
   SMART_MONEY_LIQUIDITY_GATE_V1:
     purpose: '스마트머니·유동성 차단 게이트. SM001(외국인+기관 동시 순매도→BLOCK_BUY), SM002(5일 평균 거래대금 <
       50억→LIMIT_QUANTITY), SM003(RSI14>70 AND flow_credit<0.3→BLOCK_BUY) 결정론 구현. FINAL_JUDGMENT_GATE_V1의
@@ -946,3 +1013,50 @@ formulas:
     activation_threshold:
       min_t20_sample: 30
     retirement_condition: performance_degradation
+  WEEKLY_LEGACY_TRANSFER_PLAN_V1:
+    purpose: >
+      주간 레거시종목→CMA 이전 계획(weekly_legacy_to_cma_transfer_plan_krw)을 입금이 실제로
+      확인되기 전까지는 deployable_cash_krw에 합산하지 않는다. 계획 단계(planned)와
+      확정 단계(confirmed)를 분리해 "이전될 돈을 이미 쓸 수 있는 돈"으로 취급하는 오류를 막는다.
+      (governance/todo/v8_9_p3_adoption_plan.yaml P3-E,
+      source: suggest/quant_investment_engine_v8_9_portfolio_optimizer_canonical_refactored.yaml:implementation_todo_v8_9.P3_sell_and_rebalance,
+      portfolio_policy_v8_9.operator_cashflow_config)
+    applicable: CASH_RATIOS_V1·DEPLOYABLE_CASH_KRW_V1 계산 직전. weekly_legacy_to_cma_transfer_plan_krw가 0보다 클 때.
+    inputs:
+    - field: weekly_legacy_to_cma_transfer_plan_krw
+      unit: KRW
+      default: 4000000
+      note: spec/risk/portfolio_exposure.yaml의 operator_cashflow_config 고정 계획값(월별 갱신).
+    - field: transfer_confirmed
+      unit: boolean
+      note: 실제 계좌 입금 확인 여부. 계획만으로는 false.
+    - field: transfer_confirmed_amount_krw
+      unit: KRW_or_null
+      note: 확인된 입금액. transfer_confirmed=false면 null.
+    rule: >
+      transfer_confirmed=false인 동안 weekly_legacy_to_cma_transfer_plan_krw는 deployable_cash_krw
+      계산에 포함되지 않는다(plan_status=PLANNED_NOT_DEPLOYABLE). transfer_confirmed=true가 되면
+      transfer_confirmed_amount_krw만 deployable_cash_krw에 합산한다(plan_status=CONFIRMED_DEPLOYABLE).
+      계획액과 확정액이 다르면 확정액을 우선한다(계획액으로 추정 보완 금지).
+    output:
+      field: deployable_cash_contribution_krw
+      unit: KRW
+    additional_outputs:
+    - plan_status
+    missing_policy: transfer_confirmed가 null이면 false로 간주(보수적 — 입금 미확인 상태와 동일 처리).
+    canonical_ref: spec/risk/portfolio_exposure.yaml:cash_floor
+    implementation: tools/build_weekly_legacy_transfer_plan_v1.py
+    owner: quant_team
+    lifecycle_state: shadow
+    input_fields:
+    - weekly_legacy_to_cma_transfer_plan_krw
+    - transfer_confirmed
+    - transfer_confirmed_amount_krw
+    output_fields:
+    - deployable_cash_contribution_krw
+    - plan_status
+    golden_cases:
+    - V89_005_deployable_cash_negative
+    activation_threshold:
+      min_t20_sample: 30
+    retirement_condition: performance_degradation

spec/formulas/domains/execution.yaml

@@ -0,0 +1,144 @@
+schema_version: formula_domain.v1
+source: C:\Temp\data_feed\spec\13_formula_registry.yaml
+domain: execution
+meta:
+  note: >
+    governance/todo/v8_9_p1_adoption_plan.yaml P1-B.
+    source: suggest/quant_investment_engine_v8_9_portfolio_optimizer_canonical_refactored.yaml:execution_plan_compiler_v8_9
+formulas:
+  EXECUTION_CAPACITY_LADDER_V1:
+    purpose: >
+      계획된 주문금액이 종목의 실제 체결 가능 용량(20일 평균거래대금, 당일 거래대금, 호가창 깊이)을
+      초과하지 않도록 결정론적으로 캡핑한다. broker_microstructure_packet이 없으면 주문 계획 자체를
+      차단한다(v8.9 V89_019).
+      (governance/todo/v8_9_p1_adoption_plan.yaml P1-B.1,
+      source: suggest/quant_investment_engine_v8_9_portfolio_optimizer_canonical_refactored.yaml:execution_plan_compiler_v8_9.broker_microstructure_packet_required)
+    applicable: PORTFOLIO_TRANSITION_UTILITY_V1에서 selected_transition 확정 후, 주문 분할(split_order_template) 직전.
+    inputs:
+    - field: planned_order_amount_krw
+      unit: KRW
+    - field: avg_trade_value_20d_krw
+      unit: KRW
+      source: 기존 avg_trade_value_5d(spec/12_field_dictionary.yaml)의 20일 윈도우 변형
+    - field: intraday_trade_value_krw
+      unit: KRW
+    - field: orderbook_top3_depth_krw
+      unit: KRW
+    - field: spread_bps
+      unit: basis_points
+    - field: tick_size
+      unit: KRW_per_share
+      source: spec/formulas/domains/cash.yaml:tick_size_table
+    - field: daily_price_limit
+      unit: percent
+    - field: halt_status
+      unit: boolean
+    expression: >
+      order_capacity_krw = min(planned_order_amount_krw, avg_trade_value_20d_krw * 0.003,
+      intraday_trade_value_krw * 0.01, orderbook_top3_depth_krw * 0.30)
+    output:
+      field: order_capacity_krw
+      unit: KRW
+    gates:
+    - if: halt_status == true
+      action: EXECUTION_PLAN_BLOCKED
+      reason_code: trading_halt
+    - if: avg_trade_value_20d_krw is null OR orderbook_top3_depth_krw is null OR spread_bps is null
+      action: EXECUTION_PLAN_BLOCKED
+      reason_code: broker_packet_missing
+    - if: order_capacity_krw < planned_order_amount_krw
+      action: ORDER_SIZE_CAPPED
+      reason_code: capacity_too_low
+    spread_widen_cancel_rule:
+      condition: spread_bps > spread_bps_baseline * 1.5 (slice 체결 사이 측정)
+      action: CANCEL_REMAINING_SLICES
+      canonical_ref: suggest/quant_investment_engine_v8_9...:execution_plan_compiler_v8_9.cancel_remaining_if
+    split_order_template:
+      slice_1_pct: 30
+      slice_2_pct: 30
+      slice_3_pct: 40
+      requires_revalidation_before_each_slice: true
+      revalidation_fields: [cash_floor, deployable_cash, order_capacity_krw, spread_bps]
+    missing_policy: broker_microstructure_packet 필드 중 하나라도 null이면 EXECUTION_PLAN_BLOCKED. 추정 금지.
+    canonical_ref: spec/05_position_sizing.yaml
+    implementation: tools/build_execution_capacity_ladder_v1.py
+    owner: quant_team
+    lifecycle_state: shadow
+    input_fields:
+    - planned_order_amount_krw
+    - avg_trade_value_20d_krw
+    - intraday_trade_value_krw
+    - orderbook_top3_depth_krw
+    - spread_bps
+    - tick_size
+    - daily_price_limit
+    - halt_status
+    output_fields:
+    - order_capacity_krw
+    golden_cases:
+    - V89_019_broker_packet_missing
+    - V89_020_capacity_too_low
+    - V89_022_spread_widens
+    activation_threshold:
+      min_t20_sample: 30
+    retirement_condition: performance_degradation
+  EXECUTION_PLAN_COMPILER_V1:
+    purpose: >
+      EXECUTION_CAPACITY_LADDER_V1이 산출한 order_capacity_krw를 30/30/40 LIMIT_SPLIT 슬라이스로
+      컴파일하고, 각 슬라이스 실행 직전 cash_floor·capacity·spread를 재검증한다.
+      재검증 실패 또는 cancel_remaining_if 조건 충족 시 잔여 슬라이스를 취소한다.
+      (governance/todo/v8_9_p2_adoption_plan.yaml P2-D,
+      source: suggest/quant_investment_engine_v8_9_portfolio_optimizer_canonical_refactored.yaml:execution_plan_compiler_v8_9.split_order_template,
+      execution_plan_compiler_v8_9.cancel_remaining_if)
+    applicable: EXECUTION_CAPACITY_LADDER_V1.gate가 PASS 또는 ORDER_SIZE_CAPPED일 때만 호출.
+    inputs:
+    - field: order_capacity_krw
+      unit: KRW
+      source: spec/formulas/domains/execution.yaml:EXECUTION_CAPACITY_LADDER_V1
+    - field: slice_index
+      unit: 'enum: 1 | 2 | 3'
+    - field: revalidation_snapshot
+      unit: json
+      note: 'slice 직전 시점의 {cash_floor_pct, deployable_cash_krw, order_capacity_krw, spread_bps}'
+    - field: baseline_snapshot
+      unit: json
+      note: 컴파일 시점(slice 1 이전)의 동일 필드 스냅샷. spread_widen_cancel_rule 기준값.
+    cancel_remaining_if:
+    - captain_reverses_intraday
+    - index_drop_exceeds_threshold
+    - spread_widens_beyond_limit: "revalidation_snapshot.spread_bps > baseline_snapshot.spread_bps * 1.5"
+    - cash_floor_after_fill_breached: "revalidation_snapshot.cash_floor_pct < required_cash_pct"
+    - data_quarantine_after_slice
+    - orderbook_capacity_collapses: "revalidation_snapshot.order_capacity_krw < baseline_snapshot.order_capacity_krw * 0.5"
+    expression: >
+      slice_amount_krw(1) = order_capacity_krw * 0.30
+      slice_amount_krw(2) = order_capacity_krw * 0.30
+      slice_amount_krw(3) = order_capacity_krw * 0.40
+      각 슬라이스는 직전 슬라이스 체결 후 revalidation_snapshot을 재계산하고 cancel_remaining_if를
+      평가한 뒤에만 진행한다. 어느 한 조건이라도 true이면 이후 슬라이스는 컴파일하지 않는다.
+    output:
+      field: compiled_slices
+      unit: 'list_of_{slice_index, slice_amount_krw, status}'
+    additional_outputs:
+    - cancel_reason_code
+    - slices_executed_count
+    missing_policy: order_capacity_krw 또는 baseline_snapshot 결측 시 컴파일 자체를 EXECUTION_PLAN_BLOCKED.
+    canonical_ref: spec/formulas/domains/execution.yaml:EXECUTION_CAPACITY_LADDER_V1
+    implementation: tools/build_execution_plan_compiler_v1.py
+    owner: quant_team
+    lifecycle_state: shadow
+    input_fields:
+    - order_capacity_krw
+    - slice_index
+    - revalidation_snapshot
+    - baseline_snapshot
+    output_fields:
+    - compiled_slices
+    - cancel_reason_code
+    golden_cases:
+    - V89_021_partial_fill
+    - V89_022_spread_widens
+    - V89_023_gap_up_chase
+    activation_threshold:
+      min_t20_sample: 30
+    retirement_condition: performance_degradation

spec/formulas/domains/governance.yaml

@@ -0,0 +1,163 @@
+schema_version: formula_domain.v1
+source: C:\Temp\data_feed\spec\13_formula_registry.yaml
+domain: governance
+meta:
+  note: >
+    governance/todo/v8_9_p1_adoption_plan.yaml P1-C.
+    source: suggest/quant_investment_engine_v8_9_portfolio_optimizer_canonical_refactored.yaml:model_governance_v8_9
+    이 도메인은 종목/팩터 수준 promotion(spec/57_shadow_promotion_scorecard.yaml)과는 별개로
+    전략 execution_mode 단계(AUDIT_ONLY→SHADOW→PILOT→LIVE_LIMITED→LIVE_FULL) 전체를 다룬다.
+formulas:
+  MODEL_GOVERNANCE_KILL_SWITCH_V1:
+    purpose: >
+      data_quarantine_rate, implementation_shortfall, T5_hit_rate, calibration_error,
+      drawdown 5개 지표를 감시해 기준 이탈 시 execution_mode를 자동으로 한 단계 강등한다.
+      LLM이나 운영자가 "이번엔 괜찮을 것"이라는 서사로 강등을 보류하는 것을 금지한다.
+      (governance/todo/v8_9_p1_adoption_plan.yaml P1-C.1,
+      source: suggest/quant_investment_engine_v8_9_portfolio_optimizer_canonical_refactored.yaml:risk_controls_v8_9.kill_switches,
+      model_governance_v8_9.automatic_demotion)
+    applicable: 매 의사결정 사이클 시작 전. PORTFOLIO_TRANSITION_UTILITY_V1보다 먼저 평가되어 execution_mode를 확정한다.
+    promotion_ladder: [AUDIT_ONLY, SHADOW, PILOT, LIVE_LIMITED, LIVE_FULL]
+    inputs:
+    - field: data_quarantine_rate_pct
+      unit: percent
+      source: tools/build_yaml_code_coverage_v1.py 계열 — 결측/충돌로 quarantine된 입력 비율
+    - field: implementation_shortfall_ratio
+      unit: ratio
+      note: 실제 슬리피지 / 기대 슬리피지. 2.0 초과 시 위반.
+    - field: t5_hit_rate_pct
+      source: spec/29_backtest_harness_contract.yaml:current_metrics.direction_accuracy.t5_op_rate
+      unit: percent
+    - field: t5_sample_count
+      source: spec/29_backtest_harness_contract.yaml:current_metrics.direction_accuracy.t5_op_rate.n_sample
+      unit: count
+    - field: calibration_error
+      source: spec/calibration_registry.yaml
+      unit: ratio
+    - field: calibration_error_limit
+      unit: ratio
+    - field: account_mdd_pct
+      unit: percent
+    - field: account_mdd_budget_pct
+      source: spec/risk/aggregate_risk.yaml
+      unit: percent
+    kill_switch_conditions:
+    - id: data_quarantine_rate_above_5pct
+      condition: data_quarantine_rate_pct > 5.0
+    - id: implementation_shortfall_above_2x_expected
+      condition: implementation_shortfall_ratio > 2.0
+    - id: t5_hit_rate_below_50pct_for_30_trades
+      condition: t5_sample_count >= 30 AND t5_hit_rate_pct < 50.0
+    - id: calibration_error_above_limit
+      condition: calibration_error > calibration_error_limit
+    - id: unexpected_drawdown_breach
+      condition: account_mdd_pct > account_mdd_budget_pct
+    demotion_rule: >
+      kill_switch_conditions 중 하나라도 true이면 execution_mode를 promotion_ladder에서
+      현재 단계 -1 (한 단계만 강등). AUDIT_ONLY는 더 이상 강등되지 않는다(최저 단계).
+      여러 조건이 동시에 발동해도 1단계만 강등(과잉반응 방지) — 단, 재평가 사이클마다 조건이
+      계속 true이면 추가로 1단계씩 강등된다.
+    promotion_rule: >
+      kill_switch_conditions 전부 false이고 spec/57_shadow_promotion_scorecard.yaml의
+      promotion_gate_criteria(해당 단계 전환 기준)를 만족할 때만 한 단계 승급. 자동 승급 없음 —
+      승급은 operator_override 기록을 동반해야 한다(v8.9 V89_039).
+    output:
+      field: execution_mode
+      unit: enum
+    additional_outputs:
+    - kill_switch_triggered
+    - kill_switch_reason_codes
+    - execution_mode_changed
+    missing_policy: 입력 지표 중 하나라도 null이면 해당 kill switch는 평가 불가로 PARTIAL 표기하고, 평가 가능한 지표만으로 판정한다. 모든 지표 null이면 execution_mode 변경 없이 DATA_MISSING.
+    canonical_ref: spec/57_shadow_promotion_scorecard.yaml
+    implementation: tools/build_model_governance_kill_switch_v1.py
+    owner: quant_team
+    lifecycle_state: shadow
+    input_fields:
+    - data_quarantine_rate_pct
+    - implementation_shortfall_ratio
+    - t5_hit_rate_pct
+    - t5_sample_count
+    - calibration_error
+    - calibration_error_limit
+    - account_mdd_pct
+    - account_mdd_budget_pct
+    output_fields:
+    - execution_mode
+    - kill_switch_triggered
+    - kill_switch_reason_codes
+    golden_cases:
+    - V89_035_model_kill_switch_hit_rate
+    - V89_036_model_kill_switch_slippage
+    - V89_037_data_quarantine_rate
+    activation_threshold:
+      min_t20_sample: 30
+    retirement_condition: performance_degradation
+  IMMUTABLE_DECISION_LEDGER_V1:
+    purpose: >
+      모든 의사결정을 append-only로 기록해 사후 재구성과 T1/T5/T20 성과 귀속을 가능하게 한다.
+      기존 레코드 수정·삭제를 금지하며, 동일 decision_id 재기록 시도는 거부한다.
+      (governance/todo/v8_9_p2_adoption_plan.yaml P2-C,
+      source: suggest/quant_investment_engine_v8_9_portfolio_optimizer_canonical_refactored.yaml:model_governance_v8_9.immutable_decision_log_required_fields)
+    applicable: PORTFOLIO_TRANSITION_UTILITY_V1 또는 TRANSITION_SET_ENUMERATOR_V1이 selected_transition을 확정한 직후.
+    required_fields:
+    - decision_id
+    - timestamp
+    - engine_version
+    - input_hash_bundle
+    - execution_mode
+    - candidate_ids
+    - selected_transition_id
+    - hard_blocks
+    - transition_utility_krw
+    - operator_override
+    - order_ids
+    - fill_prices
+    - slippage
+    - T1_return
+    - T5_return
+    - T20_return
+    - MAE
+    - MFE
+    append_only_rule: >
+      decision_id가 이미 ledger에 존재하면 신규 append를 거부하고 DUPLICATE_DECISION_ID 오류를 반환한다.
+      기존 레코드의 필드 값을 변경하는 호출은 없다 — T1/T5/T20/MAE/MFE는 별도의 update_outcome
+      append(새 레코드, 동일 decision_id 참조)로만 추가하고 원본 decision 레코드는 불변으로 둔다.
+    inputs:
+    - field: decision_id
+      unit: string
+    - field: engine_version
+      unit: string
+    - field: input_hash_bundle
+      unit: string
+    - field: execution_mode
+      unit: enum
+    - field: candidate_ids
+      unit: list_of_string
+    - field: selected_transition_id
+      unit: string_or_null
+    - field: transition_utility_krw
+      unit: number_or_null
+    output:
+      field: ledger_append_status
+      unit: 'enum: APPENDED | DUPLICATE_DECISION_ID | REJECTED_MISSING_FIELDS'
+    missing_policy: required_fields 중 하나라도 없으면 REJECTED_MISSING_FIELDS — 빈 문자열/0으로 채워 append 금지.
+    canonical_ref: spec/formulas/domains/portfolio.yaml:PORTFOLIO_TRANSITION_UTILITY_V1
+    implementation: tools/build_immutable_decision_ledger_v1.py
+    owner: quant_team
+    lifecycle_state: shadow
+    input_fields:
+    - decision_id
+    - engine_version
+    - input_hash_bundle
+    - execution_mode
+    - candidate_ids
+    - selected_transition_id
+    - transition_utility_krw
+    output_fields:
+    - ledger_append_status
+    golden_cases:
+    - V89_039_operator_override
+    activation_threshold:
+      min_t20_sample: 30
+    retirement_condition: performance_degradation

spec/formulas/domains/portfolio.yaml

@@ -668,3 +668,264 @@ formulas:
     activation_threshold:
       min_t20_sample: 30
     retirement_condition: performance_degradation
+  PORTFOLIO_TRANSITION_UTILITY_V1:
+    purpose: >
+      개별 매수·매도 추천이 아니라 포트폴리오 전체의 사후 상태(전환 후 cash floor, 집중도, CVaR,
+      세후비용, 회전율)를 비교해 단일 최선 전환 또는 NO_TRADE를 결정론적으로 선택한다.
+      (governance/todo/v8_9_p0_adoption_plan.yaml P0-1.2,
+      source: suggest/quant_investment_engine_v8_9_portfolio_optimizer_canonical_refactored.yaml:portfolio_transition_optimizer_v8_9)
+    default_action: NO_TRADE
+    state_vector_fields:
+    - cash_ladder
+    - positions
+    - sector_exposure_graph
+    - tax_lots
+    - risk_bucket_weights
+    - goal_progress_pct
+    - data_quality_scores
+    candidate_action_schema:
+    - candidate_id
+    - asset_id
+    - action_type
+    - planned_amount_krw
+    - source_signal_ids
+    - numeric_provenance_status
+    hard_veto_order:
+    - DATA_INVALID
+    - EXECUTION_MODE_BLOCK
+    - CASH_FLOOR_BLOCK
+    - HARD_CONCENTRATION_BLOCK
+    - NEGATIVE_TRANSITION_UTILITY
+    inputs:
+    - field: ce70_net_profit_krw
+      source: Temp/forecast_simulation_engine_v1.json
+      unit: KRW
+      missing_policy: DATA_MISSING — candidate excluded, not assumed zero
+    - field: tax_fee_slippage_krw
+      source: Temp/sell_waterfall_engine_v4.json
+      unit: KRW
+    - field: cash_repair_benefit_krw
+      source: Temp/smart_cash_recovery_v9.json
+      unit: KRW
+    - field: concentration_reduction_benefit_krw
+      unit: KRW
+    - field: turnover_penalty_krw
+      unit: KRW
+    expression: >
+      transition_utility_krw = ce70_net_profit_krw - tax_fee_slippage_krw - cvar_penalty_krw
+      - drawdown_penalty_krw + cash_repair_benefit_krw + concentration_reduction_benefit_krw
+      - turnover_penalty_krw
+    output:
+      field: transition_utility_krw
+      unit: KRW
+    acceptance_margin:
+      formula: acceptance_margin_krw = transition_utility_krw - max(mode_absolute_hurdle_krw, hurdle_multiple * estimated_total_cost_krw)
+      reject_if: acceptance_margin_krw <= 0
+    deterministic_fallbacks:
+      missing_optimizer_inputs: NO_TRADE_AND_QUARANTINE
+      solver_failure: NO_TRADE_AND_LOG_SOLVER_FAILURE
+      rank_tie: choose_lower_turnover_lower_tax_lower_marginal_risk_contribution
+      conflicting_runtime_packets: BLOCK_AND_REQUIRE_MANIFEST_REPAIR
+    missing_policy:
+      hard_constraint_input_missing: NO_TRADE_AND_QUARANTINE
+    canonical_ref: spec/risk/portfolio_exposure.yaml:concentration_caps_v8_9_supplement
+    implementation: tools/build_portfolio_transition_optimizer_v1.py
+    owner: quant_team
+    lifecycle_state: shadow
+    input_fields:
+    - ce70_net_profit_krw
+    - tax_fee_slippage_krw
+    - cash_repair_benefit_krw
+    - concentration_reduction_benefit_krw
+    - turnover_penalty_krw
+    output_fields:
+    - transition_utility_krw
+    - acceptance_margin_krw
+    - selected_transition
+    golden_cases:
+    - V89_002_no_trade_default
+    - V89_048_solver_failure
+    - V89_049_rank_tie
+    - V89_050_conflicting_packets
+    activation_threshold:
+      min_t20_sample: 30
+    retirement_condition: performance_degradation
+  TRANSITION_SET_ENUMERATOR_V1:
+    purpose: >
+      PORTFOLIO_TRANSITION_UTILITY_V1이 candidate 1건씩 평가하는 것을 넘어, 여러 candidate를
+      조합한 transition_set 단위로 hard_constraint_pass와 transition_utility_krw를 평가한다.
+      "좋은 후보 하나"가 포트폴리오 전체를 악화시키는 경우(V89_010)를 후보 조합 비교로 차단한다.
+      (governance/todo/v8_9_p2_adoption_plan.yaml P2-B,
+      source: suggest/quant_investment_engine_v8_9_portfolio_optimizer_canonical_refactored.yaml:portfolio_transition_optimizer_v8_9.selection_algorithm)
+    applicable: PORTFOLIO_TRANSITION_UTILITY_V1이 candidate별 transition_utility_krw를 산출한 직후.
+    inputs:
+    - field: evaluated_candidates
+      unit: list_of_object
+      note: PORTFOLIO_TRANSITION_UTILITY_V1.candidate_actions 산출(hard_constraint_pass, transition_utility_krw 포함)
+    - field: max_set_size
+      unit: count
+      default: 3
+      note: 조합 폭발 방지. v8.9 turnover_budget(주간 5%) 고려 시 동시 실행 후보는 통상 1~3건.
+    selection_algorithm:
+    - step_1: hard_constraint_pass=false인 candidate는 set 구성에서 제외(개별 veto 우선)
+    - step_2: 남은 candidate에서 크기 1..max_set_size의 모든 조합(transition_set)을 생성
+    - step_3: 각 transition_set의 post_trade_cash_floor_pct, post_trade_concentration_pct, post_trade_MRC(marginal_risk_contribution), post_trade_CVaR95_krw를 합산 재평가
+    - step_3b: post_trade_CVaR95_krw = sum(candidate.cvar95_loss_krw for candidate in set) — SCENARIO_SHOCK_MATRIX_V1.crisis_case 기준 사용(가장 보수적)
+    - step_3c: post_trade_MRC = sum(candidate.marginal_risk_contribution for candidate in set) / portfolio_total_risk_budget
+    - step_4: set_hard_constraint_pass=false인 set은 제외 (개별 candidate는 PASS했어도 조합 시 cash_floor/concentration/MRC/CVaR cap을 넘을 수 있음)
+    - step_5: set_transition_utility_krw = sum(candidate.transition_utility_krw for candidate in set) - combination_penalty_krw
+    - step_6: set_transition_utility_krw가 최대인 set 선택. 동률이면 PORTFOLIO_TRANSITION_UTILITY_V1.deterministic_fallbacks.rank_tie 규칙 재사용
+    - step_7: 통과하는 set이 하나도 없으면 NO_TRADE (개별 candidate가 전부 PASS여도 조합 검증을 통과 못하면 거부)
+    combination_penalty_krw:
+      formula: complexity_penalty_rate * (len(transition_set) - 1)
+      note: 후보 수가 많을수록 실행 복잡도·동시 슬리피지 리스크 증가를 반영한 페널티.
+    output:
+      field: selected_transition_set
+      unit: list_of_candidate_id
+    additional_outputs:
+    - set_transition_utility_krw
+    - set_hard_constraint_pass
+    - rejected_sets_count
+    - post_trade_mrc
+    - post_trade_cvar95_krw
+    missing_policy: evaluated_candidates가 비어 있으면 selected_transition_set=[] + NO_TRADE. 빈 조합을 임의로 채우지 않는다. cvar95_loss_krw가 candidate에 없으면(SCENARIO_SHOCK_MATRIX_V1 미실행) post_trade_cvar95_krw=null이며 해당 set은 set_hard_constraint_pass 판정에서 CVaR 기준을 PARTIAL로 표기.
+    canonical_ref: spec/formulas/domains/portfolio.yaml:PORTFOLIO_TRANSITION_UTILITY_V1
+    implementation: tools/build_transition_set_enumerator_v1.py
+    owner: quant_team
+    lifecycle_state: shadow
+    input_fields:
+    - evaluated_candidates
+    - max_set_size
+    output_fields:
+    - selected_transition_set
+    - set_transition_utility_krw
+    - set_hard_constraint_pass
+    - post_trade_mrc
+    - post_trade_cvar95_krw
+    golden_cases:
+    - V89_010_candidate_good_portfolio_bad
+    - V89_048_solver_failure
+    - V89_049_rank_tie
+    activation_threshold:
+      min_t20_sample: 30
+    retirement_condition: performance_degradation
+  STATE_VECTOR_CONSTRUCTOR_V1:
+    purpose: >
+      holdings, cash, tax_lots, sector_graph, factor_exposures, macro_regime_probabilities를
+      단일 state_vector로 통합해 PORTFOLIO_TRANSITION_UTILITY_V1과 TRANSITION_SET_ENUMERATOR_V1이
+      동일한 포트폴리오 스냅샷을 참조하도록 한다. 부분 입력으로 state_vector를 임의 보완하지 않는다.
+      (governance/todo/v8_9_p3_adoption_plan.yaml P3-A,
+      source: suggest/quant_investment_engine_v8_9_portfolio_optimizer_canonical_refactored.yaml:implementation_todo_v8_9.P1_optimizer_and_simulation)
+    applicable: MODEL_GOVERNANCE_GATE에서 execution_mode 확정 직후, HARD_FILTER_CHECK 이전.
+    component_sources:
+      cash_ladder: spec/formulas/domains/cash.yaml:CASH_RATIOS_V1
+      positions: spec/15_account_snapshot_contract.yaml
+      sector_exposure_graph: spec/formulas/domains/sector.yaml:SECTOR_EXPOSURE_GRAPH_V1
+      factor_exposures: spec/risk/factor_risk.yaml
+      tax_lots: spec/15_account_snapshot_contract.yaml
+      risk_bucket_weights: spec/risk/portfolio_exposure.yaml
+      macro_regime_probabilities: spec/risk/market_risk_cash.yaml
+      goal_progress_pct: spec/13_formula_registry.yaml:formula_registry.formulas.GOAL_RETIREMENT_V1
+    inputs:
+    - field: cash_ladder
+      unit: json
+    - field: positions
+      unit: list_of_object
+    - field: sector_exposure_graph
+      unit: list_of_object
+    - field: factor_exposures
+      unit: list_of_object
+    - field: tax_lots
+      unit: list_of_object
+    - field: risk_bucket_weights
+      unit: object
+    - field: macro_regime_probabilities
+      unit: object
+    - field: goal_progress_pct
+      unit: percent
+    output:
+      field: state_vector
+      unit: object
+    additional_outputs:
+    - state_vector_completeness_pct
+    - missing_components
+    missing_policy: 결측 component는 state_vector에서 null로 유지하고 missing_components에 기록한다. 다른 component로 추정 보완 금지.
+    canonical_ref: spec/formulas/domains/portfolio.yaml:PORTFOLIO_TRANSITION_UTILITY_V1
+    implementation: tools/build_state_vector_constructor_v1.py
+    owner: quant_team
+    lifecycle_state: shadow
+    input_fields:
+    - cash_ladder
+    - positions
+    - sector_exposure_graph
+    - factor_exposures
+    - tax_lots
+    - risk_bucket_weights
+    - macro_regime_probabilities
+    - goal_progress_pct
+    output_fields:
+    - state_vector
+    - state_vector_completeness_pct
+    - missing_components
+    golden_cases:
+    - V89_052_goal_far_from_target
+    activation_threshold:
+      min_t20_sample: 30
+    retirement_condition: performance_degradation
+  REBALANCE_CADENCE_GATE_V1:
+    purpose: >
+      주간(토/일) 및 매월 1/11/21일 점검을 의무 실행하되, 실제 리밸런싱(매수/매도 실행)은
+      transition_utility_after_tax_cost가 양수이거나 hard_risk_block이 active일 때만 허용한다.
+      점검 자체는 항상 emit되어 "점검을 안 했다"는 누락을 방지하지만, 결과가 기준 미달이면 NO_TRADE.
+      (governance/todo/v8_9_p3_adoption_plan.yaml P3-D,
+      source: suggest/quant_investment_engine_v8_9_portfolio_optimizer_canonical_refactored.yaml:implementation_todo_v8_9.P3_sell_and_rebalance,
+      rebalancing_engine_v8_9.mandatory_schedule)
+    applicable: 매주 토/일 또는 매월 1/11/21일. PORTFOLIO_TRANSITION_REVIEW 진입 조건.
+    mandatory_schedule:
+      weekly_days: [SATURDAY, SUNDAY]
+      monthly_mid_check_days: [1, 11, 21]
+      event_driven_triggers: [cash_floor_break, crisis_score_red_or_black, hard_concentration_breach, data_quarantine_material]
+    inputs:
+    - field: today_date
+      unit: date
+    - field: transition_utility_after_tax_cost_krw
+      unit: number_or_null
+      source: spec/formulas/domains/portfolio.yaml:PORTFOLIO_TRANSITION_UTILITY_V1
+    - field: hard_risk_block_active
+      unit: boolean
+      source: spec/risk/aggregate_risk.yaml
+    cadence_check_rule: >
+      today_date가 weekly_days, monthly_mid_check_days, event_driven_triggers 중 하나라도 충족하면
+      cadence_check_required=true이며 점검 결과(review_emitted)는 항상 emit한다.
+    rebalance_execution_rule: >
+      cadence_check_required=true이고 (transition_utility_after_tax_cost_krw > 0 OR hard_risk_block_active=true)
+      일 때만 rebalance_execution_allowed=true. 그 외에는 review_emitted=true이지만 rebalance_execution_allowed=false
+      (점검은 했지만 NO_TRADE).
+    output:
+      field: rebalance_execution_allowed
+      unit: boolean
+    additional_outputs:
+    - cadence_check_required
+    - review_emitted
+    - cadence_trigger_reason
+    missing_policy: transition_utility_after_tax_cost_krw가 null이면 hard_risk_block_active만으로 판정. 둘 다 null이면 rebalance_execution_allowed=false + DATA_MISSING.
+    canonical_ref: spec/risk/aggregate_risk.yaml
+    implementation: tools/build_rebalance_cadence_gate_v1.py
+    owner: quant_team
+    lifecycle_state: shadow
+    input_fields:
+    - today_date
+    - transition_utility_after_tax_cost_krw
+    - hard_risk_block_active
+    output_fields:
+    - rebalance_execution_allowed
+    - cadence_check_required
+    - review_emitted
+    golden_cases:
+    - V89_032_no_trade_band
+    - V89_033_hard_block_overrides_band
+    - V89_053_weekly_rebalance_required
+    - V89_054_mid_check_required
+    activation_threshold:
+      min_t20_sample: 30
+    retirement_condition: performance_degradation

spec/formulas/domains/sector.yaml

@@ -0,0 +1,137 @@
+schema_version: formula_domain.v1
+source: C:\Temp\data_feed\spec\13_formula_registry.yaml
+domain: sector
+meta:
+  note: >
+    governance/todo/v8_9_p1_adoption_plan.yaml P1-A.
+    source: suggest/quant_investment_engine_v8_9_portfolio_optimizer_canonical_refactored.yaml:sector_graph_engine_v8_9
+formulas:
+  SECTOR_EXPOSURE_GRAPH_V1:
+    purpose: >
+      섹터를 단일 텍스트 라벨이 아니라 L1:L2:L3:L4 canonical ID로 분류하고, ETF 구성종목을
+      lookthrough하여 직접보유와 합산한 실질노출을 계산하며, AI/반도체/전력 등 테마 간
+      중복 베타를 residualize해 과집중 진단의 이중계산을 막는다.
+      (governance/todo/v8_9_p1_adoption_plan.yaml P1-A.1,
+      source: suggest/quant_investment_engine_v8_9_portfolio_optimizer_canonical_refactored.yaml:sector_graph_engine_v8_9)
+    canonical_sector_id_format: 'L1:L2:L3:L4, 예: EQ:TECH:SEMIS:HBM'
+    applicable: portfolio_exposure.concentration_caps_v8_9_supplement, PORTFOLIO_TRANSITION_UTILITY_V1.concentration_reduction_benefit_krw 계산 직전.
+    inputs:
+    - field: direct_weight_pct
+      unit: percent
+      note: 종목 직접보유 비중
+    - field: etf_constituents_json
+      unit: json
+      note: 'ETF 구성종목 리스트 [{ticker, weight_pct}]. ETF_quality_gate(NAV_asof_valid, constituents_asof_valid) 통과 필요.'
+    - field: etf_weight_pct
+      unit: percent
+      note: 해당 ETF의 포트폴리오 내 비중
+    - field: sector_id
+      unit: string
+      note: canonical_sector_id_format 준수
+    - field: peer_sector_betas
+      unit: list_of_ratio
+      note: 동일 macro_driver(AI_capex, semiconductor 등)를 공유하는 다른 섹터의 베타 목록
+    expression:
+      lookthrough_etf_weight_pct: "sum(constituent.weight_pct * etf_weight_pct / 100 for constituent in etf_constituents_json if constituent.sector_id == sector_id)"
+      sector_family_total_pct: "direct_weight_pct + lookthrough_etf_weight_pct"
+      factor_beta_residualized: "factor_beta_raw - sum(shared_variance_with(peer) for peer in peer_sector_betas if peer.macro_driver == self.macro_driver)"
+    output:
+      field: sector_family_total_pct
+      unit: percent
+    additional_outputs:
+    - lookthrough_etf_weight_pct
+    - factor_beta_residualized
+    - theme_overlap_pct
+    gates:
+    - if: sector_family_total_pct > concentration_caps_v8_9_supplement.top3_combined_cap_pct.hard_cap_pct
+      action: HARD_CONCENTRATION_BLOCK
+    missing_policy:
+      etf_constituents_json: ETF_BUY_BLOCKED — constituents_missing (v8.9 V89_016). lookthrough를 0으로 추정 금지.
+      peer_sector_betas: factor_beta_residualized를 raw 값 그대로 사용하고 PARTIAL 표기. 0으로 추정 금지.
+    canonical_ref: spec/risk/portfolio_exposure.yaml:duplicate_exposure_rule
+    implementation: tools/build_sector_exposure_graph_v1.py
+    owner: quant_team
+    lifecycle_state: shadow
+    input_fields:
+    - direct_weight_pct
+    - etf_constituents_json
+    - etf_weight_pct
+    - sector_id
+    - peer_sector_betas
+    output_fields:
+    - sector_family_total_pct
+    - lookthrough_etf_weight_pct
+    - factor_beta_residualized
+    golden_cases:
+    - V89_044_sector_overlap
+    - V89_045_ETF_direct_overlap
+    activation_threshold:
+      min_t20_sample: 30
+    retirement_condition: performance_degradation
+  LEADER_LIFECYCLE_GATE_V1:
+    purpose: >
+      종목의 시장 주도력을 CAPTAIN/CORE_LEADER/ENABLER/CYCLICAL_BETA/LAGGARD/DISTRIBUTION_RISK
+      6개 role로 분류하고, 승급·강등 조건을 결정론적으로 평가한다. LLM이 '주도주라서 산다'는
+      서사로 role을 임의 부여하는 것을 금지한다.
+      (governance/todo/v8_9_p1_adoption_plan.yaml P1-A.2,
+      source: suggest/quant_investment_engine_v8_9_portfolio_optimizer_canonical_refactored.yaml:sector_graph_engine_v8_9.leader_lifecycle)
+    applicable: SECTOR_EXPOSURE_GRAPH_V1 산출 직후. PORTFOLIO_TRANSITION_UTILITY_V1 candidate_action 생성 전.
+    roles: [CAPTAIN, CORE_LEADER, ENABLER, CYCLICAL_BETA, LAGGARD, DISTRIBUTION_RISK]
+    inputs:
+    - field: relative_strength_leads_sector
+      unit: boolean
+    - field: volume_quality_confirmed
+      unit: boolean
+    - field: above_ma60_or_reclaim_confirmed
+      unit: boolean
+    - field: earnings_revision_status
+      unit: 'enum: positive | neutral | negative'
+    - field: institutional_flow_status
+      unit: 'enum: accumulation | neutral | distribution'
+    - field: current_role
+      unit: enum
+      note: 직전 평가에서 결정된 role. 최초 평가 시 LAGGARD로 시작.
+    promotion_requires_all:
+    - relative_strength_leads_sector == true
+    - volume_quality_confirmed == true
+    - above_ma60_or_reclaim_confirmed == true
+    - earnings_revision_status != negative
+    - institutional_flow_status != distribution
+    demotion_triggers_any:
+    - break_ma60_with_distribution: "above_ma60_or_reclaim_confirmed == false AND institutional_flow_status == distribution"
+    - underperform_sector_20d: relative_strength_leads_sector == false (20거래일 연속)
+    - earnings_revision_negative: earnings_revision_status == negative
+    - crowded_flow_reversal: institutional_flow_status == distribution AND current_role IN [CAPTAIN, CORE_LEADER]
+    role_transition_table:
+      promotion_path: [LAGGARD, CYCLICAL_BETA, ENABLER, CORE_LEADER, CAPTAIN]
+      demotion_path: [CAPTAIN, CORE_LEADER, ENABLER, CYCLICAL_BETA, LAGGARD, DISTRIBUTION_RISK]
+      rule: 승급은 promotion_requires_all 충족 시 promotion_path 다음 단계로 1단계만 이동. 강등은 demotion_triggers_any 발동 시 즉시 DISTRIBUTION_RISK로 직행(단계적 강등 아님 — 보수적 원칙).
+    output:
+      field: leader_role
+      unit: enum
+    additional_outputs:
+    - role_transition_reason
+    - role_changed
+    gates:
+    - if: leader_role == DISTRIBUTION_RISK
+      action: NEW_BUY_BLOCKED
+    missing_policy: 입력 필드 중 하나라도 null이면 role 유지(current_role) + role_transition_reason=DATA_MISSING. 임의 승급/강등 금지.
+    canonical_ref: spec/strategy/leader_scan.yaml
+    implementation: tools/build_sector_exposure_graph_v1.py
+    owner: quant_team
+    lifecycle_state: shadow
+    input_fields:
+    - relative_strength_leads_sector
+    - volume_quality_confirmed
+    - above_ma60_or_reclaim_confirmed
+    - earnings_revision_status
+    - institutional_flow_status
+    - current_role
+    output_fields:
+    - leader_role
+    - role_transition_reason
+    golden_cases:
+    - V89_046_leader_distribution
+    activation_threshold:
+      min_t20_sample: 30
+    retirement_condition: performance_degradation

spec/formulas/domains/simulation.yaml

@@ -0,0 +1,205 @@
+schema_version: formula_domain.v1
+source: C:\Temp\data_feed\spec\13_formula_registry.yaml
+domain: simulation
+meta:
+  note: >
+    governance/todo/v8_9_p0_adoption_plan.yaml P0-3.1.
+    source: suggest/quant_investment_engine_v8_9_portfolio_optimizer_canonical_refactored.yaml:forecast_and_simulation_engine_v8_9
+    배경: spec/29_backtest_harness_contract.yaml가 이미 "T+20 실현 표본 0건, walk_forward=insufficient_data"를
+    명시한다(AGENTS.md §6b). 이 도메인 파일은 분포를 날조하지 않고, 표본이 minimum_sample_rules를 충족할 때만
+    실제 bootstrap 계산 경로를 열고 미달이면 DATA_MISSING/WATCH_ONLY를 결정론적으로 반환하는 계약이다.
+formulas:
+  FORECAST_SIMULATION_ENGINE_V1:
+    purpose: >
+      개별 종목의 점 추정 기대수익률이 아니라 레짐별 손익분포에서 CE70(30%분위)·CE90(10%분위)·
+      CVaR95(95% 신뢰구간 꼬리손실 평균)를 산출한다. 표본 부족 시 가짜 분포를 만들지 않고
+      WATCH_ONLY 또는 DATA_MISSING으로 정직하게 반환한다.
+    applicable: PORTFOLIO_TRANSITION_UTILITY_V1의 ce70_net_profit_krw 입력 직전.
+    inputs:
+    - field: net_profit_distribution_after_tax_fee_slippage
+      source: spec/29_backtest_harness_contract.yaml:current_metrics
+      unit: list_of_KRW
+      note: 세후·비용 차감 손익 표본. 현재 t20_op_rate.n_sample=0 (insufficient_data).
+    - field: sample_count_total
+      unit: count
+    - field: sample_count_same_regime
+      unit: count
+    - field: execution_mode
+      unit: enum
+      note: AUDIT_ONLY | SHADOW | PILOT | LIVE_LIMITED | LIVE_FULL
+    minimum_sample_rules:
+      AUDIT_ONLY:
+        sample_count_total_min: 0
+        sample_count_same_regime_min: 0
+        note: no minimum; report missing samples only (documentation only, no live order)
+      SHADOW:
+        sample_count_total_min: 30
+        sample_count_same_regime_min: 10
+      PILOT:
+        sample_count_total_min: 80
+        sample_count_same_regime_min: 20
+      LIVE_LIMITED:
+        sample_count_total_min: 150
+        sample_count_same_regime_min: 30
+      LIVE_FULL:
+        sample_count_total_min: 300
+        sample_count_same_regime_min: 50
+      agents_md_cross_check: "AGENTS.md §6b: Live T+20 표본 30건 미만이면 active/PASS_100 승격 금지"
+    gate_logic:
+    - if: sample_count_total < minimum_sample_rules[execution_mode].sample_count_total_min
+      action: WATCH_ONLY
+      output: "ce70_net_profit_krw=null, ce90_net_profit_krw=null, cvar95_loss_krw=null"
+    - if: sample_count_same_regime < minimum_sample_rules[execution_mode].sample_count_same_regime_min
+      action: WATCH_ONLY
+      output: "ce70_net_profit_krw=null, ce90_net_profit_krw=null, cvar95_loss_krw=null"
+    - if: sample_count_total >= minimum AND sample_count_same_regime >= minimum
+      action: COMPUTE
+      expression:
+        ce70_net_profit_krw: quantile(net_profit_distribution_after_tax_fee_slippage, 0.30)
+        ce90_net_profit_krw: quantile(net_profit_distribution_after_tax_fee_slippage, 0.10)
+        cvar95_loss_krw: mean(losses beyond 95th percentile loss threshold in net_profit_distribution_after_tax_fee_slippage)
+    estimator_allowlist:
+    - walk_forward_bootstrap
+    - regime_matched_bootstrap
+    forbidden_estimators:
+    - LLM_guess_return
+    - single_point_target_price_without_distribution
+    - backtest_without_cost_or_leakage_test
+    output:
+      field: ce70_net_profit_krw
+      unit: KRW_or_null
+    additional_outputs:
+    - ce90_net_profit_krw
+    - cvar95_loss_krw
+    - sample_count_total
+    - sample_count_same_regime
+    - gate
+    missing_policy:
+      net_profit_distribution_after_tax_fee_slippage: 표본 없으면 모든 출력 null + gate=WATCH_ONLY. 0으로 대체 금지.
+    canonical_ref: spec/29_backtest_harness_contract.yaml:current_metrics.walk_forward
+    implementation: tools/build_forecast_simulation_engine_v1.py
+    owner: quant_team
+    lifecycle_state: shadow
+    input_fields:
+    - net_profit_distribution_after_tax_fee_slippage
+    - sample_count_total
+    - sample_count_same_regime
+    - execution_mode
+    output_fields:
+    - ce70_net_profit_krw
+    - ce90_net_profit_krw
+    - cvar95_loss_krw
+    - sample_count_total
+    - sample_count_same_regime
+    - gate
+    golden_cases:
+    - V89_013_missing_CVaR
+    - V89_014_same_regime_sample_low
+    activation_threshold:
+      min_t20_sample: 30
+    retirement_condition: performance_degradation
+  SCENARIO_SHOCK_MATRIX_V1:
+    purpose: >
+      base_case 분포 하나만으로 위기 취약성을 가리지 않도록, FORECAST_SIMULATION_ENGINE_V1의
+      net_profit_distribution_after_tax_fee_slippage에 5개 스트레스 시나리오를 결정론적으로
+      적용해 각 시나리오별 CE70/CVaR95를 산출한다. 거짓 분포 생성을 금지하며, base distribution이
+      없으면 모든 시나리오가 DATA_MISSING이다.
+      (governance/todo/v8_9_p2_adoption_plan.yaml P2-A,
+      source: suggest/quant_investment_engine_v8_9_portfolio_optimizer_canonical_refactored.yaml:forecast_and_simulation_engine_v8_9.simulation_grid)
+    applicable: FORECAST_SIMULATION_ENGINE_V1의 gate=PASS(분포 산출 성공) 직후.
+    scenario_definitions:
+      base_case: {shock_multiplier: 1.0, note: current_regime_probability_weighted, source_distribution: as-is}
+      adverse_case: {shock_multiplier: 1.5, note: volatility_up_and_breadth_down — 손실 구간 증폭}
+      liquidity_drought_case: {shock_multiplier: 1.3, capacity_derate_pct: 40, note: spread_widening_and_capacity_down}
+      crisis_case: {shock_multiplier: 2.0, correlation_to_one: true, note: correlation_to_one_and_gap_down}
+      fx_shock_case: {shock_multiplier: 1.2, applies_only_to: foreign_assets, note: USDKRW adverse movement}
+      tax_cost_case: {shock_multiplier: 1.0, additional_cost_pct: 5, note: realized_gain_tax_and_reentry_cost_stress}
+    inputs:
+    - field: net_profit_distribution_after_tax_fee_slippage
+      unit: list_of_KRW
+    - field: scenario_id
+      unit: 'enum: base_case | adverse_case | liquidity_drought_case | crisis_case | fx_shock_case | tax_cost_case'
+    expression: >
+      shocked_distribution = [v * scenario.shock_multiplier if v < 0 else v / scenario.shock_multiplier
+      for v in net_profit_distribution_after_tax_fee_slippage] (손실만 증폭, 이익은 보수적으로 축소)
+      scenario_ce70_krw = quantile(shocked_distribution, 0.30)
+      scenario_cvar95_krw = mean(losses beyond 95th percentile loss threshold in shocked_distribution)
+    output:
+      field: scenario_results
+      unit: 'list_of_{scenario_id, scenario_ce70_krw, scenario_cvar95_krw}'
+    missing_policy: net_profit_distribution_after_tax_fee_slippage가 없으면 전체 scenario_results가 DATA_MISSING. 시나리오별로 임의 분포 생성 금지.
+    canonical_ref: spec/formulas/domains/simulation.yaml:FORECAST_SIMULATION_ENGINE_V1
+    implementation: tools/build_scenario_shock_matrix_v1.py
+    owner: quant_team
+    lifecycle_state: shadow
+    input_fields:
+    - net_profit_distribution_after_tax_fee_slippage
+    - scenario_id
+    output_fields:
+    - scenario_results
+    golden_cases:
+    - V89_010_candidate_good_portfolio_bad
+    activation_threshold:
+      min_t20_sample: 30
+    retirement_condition: performance_degradation
+  WALK_FORWARD_BOOTSTRAP_V1:
+    purpose: >
+      FORECAST_SIMULATION_ENGINE_V1이 입력으로 받는 net_profit_distribution_after_tax_fee_slippage를
+      실제 historical_returns 표본에서 walk-forward(시간순 비복원, in-sample/out-of-sample 분리) 및
+      regime-matched(현재 레짐과 동일한 구간만 필터) 리샘플링으로 생성한다. 가짜 분포 생성을 금지하며
+      historical_returns가 없거나 표본이 1건뿐이면 DATA_MISSING.
+      (governance/todo/v8_9_p3_adoption_plan.yaml P3-B,
+      source: suggest/quant_investment_engine_v8_9_portfolio_optimizer_canonical_refactored.yaml:forecast_and_simulation_engine_v8_9.allowed_estimators)
+    applicable: FORECAST_SIMULATION_ENGINE_V1 직전 — 이 엔진의 출력이 FORECAST_SIMULATION_ENGINE_V1의 입력이 된다.
+    inputs:
+    - field: historical_returns
+      unit: list_of_object
+      note: 'spec/29_backtest_harness_contract.yaml 연동. [{date, regime_state, net_return_after_cost_pct}]. 현재 t20 n_sample=0.'
+    - field: current_regime_state
+      unit: string
+    - field: bootstrap_method
+      unit: 'enum: walk_forward | regime_matched'
+    - field: resample_count
+      unit: count
+      default: 1000
+      note: 리샘플링 반복 횟수. historical_returns 표본이 적으면 resample_count와 무관하게 sample_count_total은 historical_returns 길이로 결정.
+    estimator_rule:
+      walk_forward: >
+        historical_returns를 시간순으로 정렬해 첫 70%를 in-sample, 나머지 30%를 out-of-sample로
+        고정 분리한다. out-of-sample 구간에서만 비복원 블록 리샘플링(block size=5)으로
+        net_profit_distribution을 생성한다. in-sample 재사용 금지(leakage 방지).
+      regime_matched: >
+        historical_returns 중 regime_state == current_regime_state인 행만 필터링 후
+        복원추출(bootstrap with replacement)로 net_profit_distribution을 생성한다.
+        필터 결과가 비어 있으면 DATA_MISSING(다른 레짐으로 대체 금지).
+    leakage_controls:
+    - asof_join_required
+    - future_constituent_exclusion
+    - calendar_alignment
+    output:
+      field: net_profit_distribution_after_tax_fee_slippage
+      unit: list_of_KRW_or_null
+    additional_outputs:
+    - sample_count_total
+    - sample_count_same_regime
+    - leakage_check_status
+    missing_policy: historical_returns 결측 또는 표본 1건 이하면 net_profit_distribution=null + gate=DATA_MISSING. 보간·추정 금지.
+    canonical_ref: spec/29_backtest_harness_contract.yaml:current_metrics.walk_forward
+    implementation: tools/build_walk_forward_bootstrap_v1.py
+    owner: quant_team
+    lifecycle_state: shadow
+    input_fields:
+    - historical_returns
+    - current_regime_state
+    - bootstrap_method
+    - resample_count
+    output_fields:
+    - net_profit_distribution_after_tax_fee_slippage
+    - sample_count_total
+    - sample_count_same_regime
+    golden_cases:
+    - V89_014_same_regime_sample_low
+    - V89_048_solver_failure
+    activation_threshold:
+      min_t20_sample: 30
+    retirement_condition: performance_degradation

spec/risk/portfolio_exposure.yaml

@@ -423,6 +423,30 @@ portfolio_exposure_framework:
       - "cluster_state 필드 없이 반도체 종목 SELL 판단 금지"
       - "CLUSTER_HOLD_ONLY 상태를 LLM이 임의로 CLUSTER_OPEN으로 변경 금지"
 
+  # ── [P0-1.1 / governance/todo/v8_9_p0_adoption_plan.yaml] v8.9 제안 신규 cap 필드 ──
+  # 배경: v8.9 제안서(suggest/quant_investment_engine_v8_9...)는 단일종목·top3 cap을 제시했으나
+  #       기존 spec에는 이름 지정 예외(삼성전자/SK하이닉스 spec/05_position_sizing.yaml,
+  #       반도체 클러스터 spec/10_portfolio_rules.yaml)만 있고 "이름 없는 일반 종목"의
+  #       기본 상한과 top3 합산 상한이 없었다. 기존 이름 지정 예외를 덮어쓰지 않고
+  #       비어있던 두 칸만 채운다.
+  concentration_caps_v8_9_supplement:
+    note: >
+      이 항목은 기존 regime/cluster_state 연동 cash_floor·반도체 cap을 대체하지 않는다.
+      spec/05_position_sizing.yaml의 삼성전자(soft 45%/hard 48%)·SK하이닉스(soft 22%/hard 25%)
+      named exception과 spec/risk/portfolio_exposure.yaml:target_allocation_structure.
+      tactical_satellite_bucket.concentration_rule(단일 위성 7%)이 항상 우선한다.
+    default_single_stock_cap_pct:
+      applies_when: "named exception(삼성전자·SK하이닉스 등 spec/05_position_sizing.yaml) 또는 위성 7% 규칙이 없는 종목"
+      soft_cap_pct: 15
+      hard_cap_pct: 20
+      over_cap_action: "no_additional_buy; evaluate partial_trim_or_core_ETF_transition_after_tax_cost"
+    top3_combined_cap_pct:
+      definition: "포트폴리오 내 비중 상위 3개 종목(직접보유, named exception 포함)의 합산 비중"
+      soft_cap_pct: 50
+      hard_cap_pct: 65
+      over_cap_action: "no_additional_buy_increasing_concentration; transition_optimizer가 신규 매수 후보를 hard_constraint_fail로 거부"
+    source_proposal: suggest/quant_investment_engine_v8_9_portfolio_optimizer_canonical_refactored.yaml:portfolio_policy_v8_9.concentration_limits
+
   cash_floor:  # ── 구조 수정: duplicate_exposure_rule 자식(4칸) → portfolio_exposure_framework 직속(2칸) (2026-05-14)
     normal: "총자산 7~10%"
     overheated_or_event_week: "총자산 10~15%"

src/quant_engine/models/generated/execution_capacity_ladder_v1_schema.py

@@ -0,0 +1,33 @@
+"""Auto-generated schema model descriptor."""
+from __future__ import annotations
+
+from dataclasses import dataclass
+import json
+from pathlib import Path
+from typing import Any
+
+SCHEMA_TITLE = 'EXECUTION_CAPACITY_LADDER_V1'
+SCHEMA_ID = 'schema://formula/EXECUTION_CAPACITY_LADDER_V1'
+SCHEMA_PATH = 'schemas/generated/execution_capacity_ladder_v1.schema.json'
+SCHEMA_PROPERTIES = ['formula_id', 'owner', 'status', 'inputs', 'outputs']
+SCHEMA_REQUIRED = ['formula_id', 'owner', 'status', 'inputs', 'outputs']
+
+@dataclass(frozen=True)
+class SchemaModel:
+    title: str
+    schema_id: str
+    path: str
+    properties: list[str]
+    required: list[str]
+
+def load_schema() -> dict[str, Any]:
+    return json.loads(Path(__file__).with_suffix('.schema.json').read_text(encoding='utf-8'))
+
+def describe() -> SchemaModel:
+    return SchemaModel(
+        title=SCHEMA_TITLE,
+        schema_id=SCHEMA_ID,
+        path=SCHEMA_PATH,
+        properties=list(SCHEMA_PROPERTIES),
+        required=list(SCHEMA_REQUIRED),
+    )

src/quant_engine/models/generated/execution_capacity_ladder_v1_schema.schema.json

@@ -0,0 +1,46 @@
+{
+  "$schema": "https://json-schema.org/draft/2020-12/schema",
+  "$id": "schema://formula/EXECUTION_CAPACITY_LADDER_V1",
+  "title": "EXECUTION_CAPACITY_LADDER_V1",
+  "type": "object",
+  "properties": {
+    "formula_id": {
+      "const": "EXECUTION_CAPACITY_LADDER_V1"
+    },
+    "owner": {
+      "type": "string"
+    },
+    "status": {
+      "type": "string"
+    },
+    "inputs": {
+      "type": "array",
+      "items": {
+        "type": "string"
+      }
+    },
+    "outputs": {
+      "type": "array",
+      "items": {
+        "type": "string"
+      }
+    }
+  },
+  "required": [
+    "formula_id",
+    "owner",
+    "status",
+    "inputs",
+    "outputs"
+  ],
+  "x_formula_inputs": [
+    "planned_order_amount_krw",
+    "avg_trade_value_20d_krw",
+    "intraday_trade_value_krw",
+    "orderbook_top3_depth_krw",
+    "spread_bps"
+  ],
+  "x_formula_outputs": [
+    "order_capacity_krw"
+  ]
+}

src/quant_engine/models/generated/execution_plan_compiler_v1_schema.py

@@ -0,0 +1,33 @@
+"""Auto-generated schema model descriptor."""
+from __future__ import annotations
+
+from dataclasses import dataclass
+import json
+from pathlib import Path
+from typing import Any
+
+SCHEMA_TITLE = 'EXECUTION_PLAN_COMPILER_V1'
+SCHEMA_ID = 'schema://formula/EXECUTION_PLAN_COMPILER_V1'
+SCHEMA_PATH = 'schemas/generated/execution_plan_compiler_v1.schema.json'
+SCHEMA_PROPERTIES = ['formula_id', 'owner', 'status', 'inputs', 'outputs']
+SCHEMA_REQUIRED = ['formula_id', 'owner', 'status', 'inputs', 'outputs']
+
+@dataclass(frozen=True)
+class SchemaModel:
+    title: str
+    schema_id: str
+    path: str
+    properties: list[str]
+    required: list[str]
+
+def load_schema() -> dict[str, Any]:
+    return json.loads(Path(__file__).with_suffix('.schema.json').read_text(encoding='utf-8'))
+
+def describe() -> SchemaModel:
+    return SchemaModel(
+        title=SCHEMA_TITLE,
+        schema_id=SCHEMA_ID,
+        path=SCHEMA_PATH,
+        properties=list(SCHEMA_PROPERTIES),
+        required=list(SCHEMA_REQUIRED),
+    )

src/quant_engine/models/generated/execution_plan_compiler_v1_schema.schema.json

@@ -0,0 +1,16 @@
+{
+  "$schema": "https://json-schema.org/draft/2020-12/schema",
+  "$id": "schema://formula/EXECUTION_PLAN_COMPILER_V1",
+  "title": "EXECUTION_PLAN_COMPILER_V1",
+  "type": "object",
+  "properties": {
+    "formula_id": { "const": "EXECUTION_PLAN_COMPILER_V1" },
+    "owner": { "type": "string" },
+    "status": { "type": "string" },
+    "inputs": { "type": "array", "items": { "type": "string" } },
+    "outputs": { "type": "array", "items": { "type": "string" } }
+  },
+  "required": ["formula_id", "owner", "status", "inputs", "outputs"],
+  "x_formula_inputs": ["order_capacity_krw", "revalidation_snapshot", "baseline_snapshot"],
+  "x_formula_outputs": ["compiled_slices"]
+}

src/quant_engine/models/generated/immutable_decision_ledger_v1_schema.py

@@ -0,0 +1,33 @@
+"""Auto-generated schema model descriptor."""
+from __future__ import annotations
+
+from dataclasses import dataclass
+import json
+from pathlib import Path
+from typing import Any
+
+SCHEMA_TITLE = 'IMMUTABLE_DECISION_LEDGER_V1'
+SCHEMA_ID = 'schema://formula/IMMUTABLE_DECISION_LEDGER_V1'
+SCHEMA_PATH = 'schemas/generated/immutable_decision_ledger_v1.schema.json'
+SCHEMA_PROPERTIES = ['formula_id', 'owner', 'status', 'inputs', 'outputs']
+SCHEMA_REQUIRED = ['formula_id', 'owner', 'status', 'inputs', 'outputs']
+
+@dataclass(frozen=True)
+class SchemaModel:
+    title: str
+    schema_id: str
+    path: str
+    properties: list[str]
+    required: list[str]
+
+def load_schema() -> dict[str, Any]:
+    return json.loads(Path(__file__).with_suffix('.schema.json').read_text(encoding='utf-8'))
+
+def describe() -> SchemaModel:
+    return SchemaModel(
+        title=SCHEMA_TITLE,
+        schema_id=SCHEMA_ID,
+        path=SCHEMA_PATH,
+        properties=list(SCHEMA_PROPERTIES),
+        required=list(SCHEMA_REQUIRED),
+    )

src/quant_engine/models/generated/immutable_decision_ledger_v1_schema.schema.json

@@ -0,0 +1,16 @@
+{
+  "$schema": "https://json-schema.org/draft/2020-12/schema",
+  "$id": "schema://formula/IMMUTABLE_DECISION_LEDGER_V1",
+  "title": "IMMUTABLE_DECISION_LEDGER_V1",
+  "type": "object",
+  "properties": {
+    "formula_id": { "const": "IMMUTABLE_DECISION_LEDGER_V1" },
+    "owner": { "type": "string" },
+    "status": { "type": "string" },
+    "inputs": { "type": "array", "items": { "type": "string" } },
+    "outputs": { "type": "array", "items": { "type": "string" } }
+  },
+  "required": ["formula_id", "owner", "status", "inputs", "outputs"],
+  "x_formula_inputs": ["decision_id", "input_hash_bundle", "execution_mode", "candidate_ids", "selected_transition_id"],
+  "x_formula_outputs": ["ledger_append_status"]
+}

src/quant_engine/models/generated/model_governance_kill_switch_v1_schema.py

@@ -0,0 +1,33 @@
+"""Auto-generated schema model descriptor."""
+from __future__ import annotations
+
+from dataclasses import dataclass
+import json
+from pathlib import Path
+from typing import Any
+
+SCHEMA_TITLE = 'MODEL_GOVERNANCE_KILL_SWITCH_V1'
+SCHEMA_ID = 'schema://formula/MODEL_GOVERNANCE_KILL_SWITCH_V1'
+SCHEMA_PATH = 'schemas/generated/model_governance_kill_switch_v1.schema.json'
+SCHEMA_PROPERTIES = ['formula_id', 'owner', 'status', 'inputs', 'outputs']
+SCHEMA_REQUIRED = ['formula_id', 'owner', 'status', 'inputs', 'outputs']
+
+@dataclass(frozen=True)
+class SchemaModel:
+    title: str
+    schema_id: str
+    path: str
+    properties: list[str]
+    required: list[str]
+
+def load_schema() -> dict[str, Any]:
+    return json.loads(Path(__file__).with_suffix('.schema.json').read_text(encoding='utf-8'))
+
+def describe() -> SchemaModel:
+    return SchemaModel(
+        title=SCHEMA_TITLE,
+        schema_id=SCHEMA_ID,
+        path=SCHEMA_PATH,
+        properties=list(SCHEMA_PROPERTIES),
+        required=list(SCHEMA_REQUIRED),
+    )

src/quant_engine/models/generated/model_governance_kill_switch_v1_schema.schema.json

@@ -0,0 +1,51 @@
+{
+  "$schema": "https://json-schema.org/draft/2020-12/schema",
+  "$id": "schema://formula/MODEL_GOVERNANCE_KILL_SWITCH_V1",
+  "title": "MODEL_GOVERNANCE_KILL_SWITCH_V1",
+  "type": "object",
+  "properties": {
+    "formula_id": {
+      "const": "MODEL_GOVERNANCE_KILL_SWITCH_V1"
+    },
+    "owner": {
+      "type": "string"
+    },
+    "status": {
+      "type": "string"
+    },
+    "inputs": {
+      "type": "array",
+      "items": {
+        "type": "string"
+      }
+    },
+    "outputs": {
+      "type": "array",
+      "items": {
+        "type": "string"
+      }
+    }
+  },
+  "required": [
+    "formula_id",
+    "owner",
+    "status",
+    "inputs",
+    "outputs"
+  ],
+  "x_formula_inputs": [
+    "data_quarantine_rate_pct",
+    "implementation_shortfall_ratio",
+    "t5_hit_rate_pct",
+    "t5_sample_count",
+    "calibration_error",
+    "calibration_error_limit",
+    "account_mdd_pct",
+    "account_mdd_budget_pct"
+  ],
+  "x_formula_outputs": [
+    "execution_mode",
+    "kill_switch_triggered",
+    "kill_switch_reason_codes"
+  ]
+}

src/quant_engine/models/generated/portfolio_transition_optimizer_v1_schema.py

@@ -0,0 +1,33 @@
+"""Auto-generated schema model descriptor."""
+from __future__ import annotations
+
+from dataclasses import dataclass
+import json
+from pathlib import Path
+from typing import Any
+
+SCHEMA_TITLE = 'PORTFOLIO_TRANSITION_UTILITY_V1'
+SCHEMA_ID = 'schema://formula/PORTFOLIO_TRANSITION_UTILITY_V1'
+SCHEMA_PATH = 'schemas/generated/portfolio_transition_optimizer_v1.schema.json'
+SCHEMA_PROPERTIES = ['formula_id', 'owner', 'status', 'inputs', 'outputs']
+SCHEMA_REQUIRED = ['formula_id', 'owner', 'status', 'inputs', 'outputs']
+
+@dataclass(frozen=True)
+class SchemaModel:
+    title: str
+    schema_id: str
+    path: str
+    properties: list[str]
+    required: list[str]
+
+def load_schema() -> dict[str, Any]:
+    return json.loads(Path(__file__).with_suffix('.schema.json').read_text(encoding='utf-8'))
+
+def describe() -> SchemaModel:
+    return SchemaModel(
+        title=SCHEMA_TITLE,
+        schema_id=SCHEMA_ID,
+        path=SCHEMA_PATH,
+        properties=list(SCHEMA_PROPERTIES),
+        required=list(SCHEMA_REQUIRED),
+    )

src/quant_engine/models/generated/portfolio_transition_optimizer_v1_schema.schema.json

@@ -0,0 +1,48 @@
+{
+  "$schema": "https://json-schema.org/draft/2020-12/schema",
+  "$id": "schema://formula/PORTFOLIO_TRANSITION_UTILITY_V1",
+  "title": "PORTFOLIO_TRANSITION_UTILITY_V1",
+  "type": "object",
+  "properties": {
+    "formula_id": {
+      "const": "PORTFOLIO_TRANSITION_UTILITY_V1"
+    },
+    "owner": {
+      "type": "string"
+    },
+    "status": {
+      "type": "string"
+    },
+    "inputs": {
+      "type": "array",
+      "items": {
+        "type": "string"
+      }
+    },
+    "outputs": {
+      "type": "array",
+      "items": {
+        "type": "string"
+      }
+    }
+  },
+  "required": [
+    "formula_id",
+    "owner",
+    "status",
+    "inputs",
+    "outputs"
+  ],
+  "x_formula_inputs": [
+    "ce70_net_profit_krw",
+    "tax_fee_slippage_krw",
+    "cash_repair_benefit_krw",
+    "concentration_reduction_benefit_krw",
+    "turnover_penalty_krw"
+  ],
+  "x_formula_outputs": [
+    "transition_utility_krw",
+    "acceptance_margin_krw",
+    "selected_transition"
+  ]
+}

src/quant_engine/models/generated/rebalance_cadence_gate_v1_schema.py

@@ -0,0 +1,33 @@
+"""Auto-generated schema model descriptor."""
+from __future__ import annotations
+
+from dataclasses import dataclass
+import json
+from pathlib import Path
+from typing import Any
+
+SCHEMA_TITLE = 'REBALANCE_CADENCE_GATE_V1'
+SCHEMA_ID = 'schema://formula/REBALANCE_CADENCE_GATE_V1'
+SCHEMA_PATH = 'schemas/generated/rebalance_cadence_gate_v1.schema.json'
+SCHEMA_PROPERTIES = ['formula_id', 'owner', 'status', 'inputs', 'outputs']
+SCHEMA_REQUIRED = ['formula_id', 'owner', 'status', 'inputs', 'outputs']
+
+@dataclass(frozen=True)
+class SchemaModel:
+    title: str
+    schema_id: str
+    path: str
+    properties: list[str]
+    required: list[str]
+
+def load_schema() -> dict[str, Any]:
+    return json.loads(Path(__file__).with_suffix('.schema.json').read_text(encoding='utf-8'))
+
+def describe() -> SchemaModel:
+    return SchemaModel(
+        title=SCHEMA_TITLE,
+        schema_id=SCHEMA_ID,
+        path=SCHEMA_PATH,
+        properties=list(SCHEMA_PROPERTIES),
+        required=list(SCHEMA_REQUIRED),
+    )

src/quant_engine/models/generated/rebalance_cadence_gate_v1_schema.schema.json

@@ -0,0 +1,16 @@
+{
+  "$schema": "https://json-schema.org/draft/2020-12/schema",
+  "$id": "schema://formula/REBALANCE_CADENCE_GATE_V1",
+  "title": "REBALANCE_CADENCE_GATE_V1",
+  "type": "object",
+  "properties": {
+    "formula_id": { "const": "REBALANCE_CADENCE_GATE_V1" },
+    "owner": { "type": "string" },
+    "status": { "type": "string" },
+    "inputs": { "type": "array", "items": { "type": "string" } },
+    "outputs": { "type": "array", "items": { "type": "string" } }
+  },
+  "required": ["formula_id", "owner", "status", "inputs", "outputs"],
+  "x_formula_inputs": ["today_date", "transition_utility_after_tax_cost_krw", "hard_risk_block_active"],
+  "x_formula_outputs": ["rebalance_execution_allowed", "cadence_check_required", "review_emitted"]
+}

src/quant_engine/models/generated/scenario_shock_matrix_v1_schema.py

@@ -0,0 +1,33 @@
+"""Auto-generated schema model descriptor."""
+from __future__ import annotations
+
+from dataclasses import dataclass
+import json
+from pathlib import Path
+from typing import Any
+
+SCHEMA_TITLE = 'SCENARIO_SHOCK_MATRIX_V1'
+SCHEMA_ID = 'schema://formula/SCENARIO_SHOCK_MATRIX_V1'
+SCHEMA_PATH = 'schemas/generated/scenario_shock_matrix_v1.schema.json'
+SCHEMA_PROPERTIES = ['formula_id', 'owner', 'status', 'inputs', 'outputs']
+SCHEMA_REQUIRED = ['formula_id', 'owner', 'status', 'inputs', 'outputs']
+
+@dataclass(frozen=True)
+class SchemaModel:
+    title: str
+    schema_id: str
+    path: str
+    properties: list[str]
+    required: list[str]
+
+def load_schema() -> dict[str, Any]:
+    return json.loads(Path(__file__).with_suffix('.schema.json').read_text(encoding='utf-8'))
+
+def describe() -> SchemaModel:
+    return SchemaModel(
+        title=SCHEMA_TITLE,
+        schema_id=SCHEMA_ID,
+        path=SCHEMA_PATH,
+        properties=list(SCHEMA_PROPERTIES),
+        required=list(SCHEMA_REQUIRED),
+    )

src/quant_engine/models/generated/scenario_shock_matrix_v1_schema.schema.json

@@ -0,0 +1,16 @@
+{
+  "$schema": "https://json-schema.org/draft/2020-12/schema",
+  "$id": "schema://formula/SCENARIO_SHOCK_MATRIX_V1",
+  "title": "SCENARIO_SHOCK_MATRIX_V1",
+  "type": "object",
+  "properties": {
+    "formula_id": { "const": "SCENARIO_SHOCK_MATRIX_V1" },
+    "owner": { "type": "string" },
+    "status": { "type": "string" },
+    "inputs": { "type": "array", "items": { "type": "string" } },
+    "outputs": { "type": "array", "items": { "type": "string" } }
+  },
+  "required": ["formula_id", "owner", "status", "inputs", "outputs"],
+  "x_formula_inputs": ["net_profit_distribution_after_tax_fee_slippage", "scenario_id"],
+  "x_formula_outputs": ["scenario_results"]
+}

src/quant_engine/models/generated/sector_exposure_graph_v1_schema.py

@@ -0,0 +1,33 @@
+"""Auto-generated schema model descriptor."""
+from __future__ import annotations
+
+from dataclasses import dataclass
+import json
+from pathlib import Path
+from typing import Any
+
+SCHEMA_TITLE = 'SECTOR_EXPOSURE_GRAPH_V1'
+SCHEMA_ID = 'schema://formula/SECTOR_EXPOSURE_GRAPH_V1'
+SCHEMA_PATH = 'schemas/generated/sector_exposure_graph_v1.schema.json'
+SCHEMA_PROPERTIES = ['formula_id', 'owner', 'status', 'inputs', 'outputs']
+SCHEMA_REQUIRED = ['formula_id', 'owner', 'status', 'inputs', 'outputs']
+
+@dataclass(frozen=True)
+class SchemaModel:
+    title: str
+    schema_id: str
+    path: str
+    properties: list[str]
+    required: list[str]
+
+def load_schema() -> dict[str, Any]:
+    return json.loads(Path(__file__).with_suffix('.schema.json').read_text(encoding='utf-8'))
+
+def describe() -> SchemaModel:
+    return SchemaModel(
+        title=SCHEMA_TITLE,
+        schema_id=SCHEMA_ID,
+        path=SCHEMA_PATH,
+        properties=list(SCHEMA_PROPERTIES),
+        required=list(SCHEMA_REQUIRED),
+    )

src/quant_engine/models/generated/sector_exposure_graph_v1_schema.schema.json

@@ -0,0 +1,49 @@
+{
+  "$schema": "https://json-schema.org/draft/2020-12/schema",
+  "$id": "schema://formula/SECTOR_EXPOSURE_GRAPH_V1",
+  "title": "SECTOR_EXPOSURE_GRAPH_V1",
+  "type": "object",
+  "properties": {
+    "formula_id": {
+      "const": "SECTOR_EXPOSURE_GRAPH_V1"
+    },
+    "owner": {
+      "type": "string"
+    },
+    "status": {
+      "type": "string"
+    },
+    "inputs": {
+      "type": "array",
+      "items": {
+        "type": "string"
+      }
+    },
+    "outputs": {
+      "type": "array",
+      "items": {
+        "type": "string"
+      }
+    }
+  },
+  "required": [
+    "formula_id",
+    "owner",
+    "status",
+    "inputs",
+    "outputs"
+  ],
+  "x_formula_inputs": [
+    "direct_weight_pct",
+    "etf_constituents_json",
+    "etf_weight_pct",
+    "sector_id",
+    "peer_sector_betas"
+  ],
+  "x_formula_outputs": [
+    "sector_family_total_pct",
+    "lookthrough_etf_weight_pct",
+    "factor_beta_residualized",
+    "leader_role"
+  ]
+}

src/quant_engine/models/generated/state_vector_constructor_v1_schema.py

@@ -0,0 +1,33 @@
+"""Auto-generated schema model descriptor."""
+from __future__ import annotations
+
+from dataclasses import dataclass
+import json
+from pathlib import Path
+from typing import Any
+
+SCHEMA_TITLE = 'STATE_VECTOR_CONSTRUCTOR_V1'
+SCHEMA_ID = 'schema://formula/STATE_VECTOR_CONSTRUCTOR_V1'
+SCHEMA_PATH = 'schemas/generated/state_vector_constructor_v1.schema.json'
+SCHEMA_PROPERTIES = ['formula_id', 'owner', 'status', 'inputs', 'outputs']
+SCHEMA_REQUIRED = ['formula_id', 'owner', 'status', 'inputs', 'outputs']
+
+@dataclass(frozen=True)
+class SchemaModel:
+    title: str
+    schema_id: str
+    path: str
+    properties: list[str]
+    required: list[str]
+
+def load_schema() -> dict[str, Any]:
+    return json.loads(Path(__file__).with_suffix('.schema.json').read_text(encoding='utf-8'))
+
+def describe() -> SchemaModel:
+    return SchemaModel(
+        title=SCHEMA_TITLE,
+        schema_id=SCHEMA_ID,
+        path=SCHEMA_PATH,
+        properties=list(SCHEMA_PROPERTIES),
+        required=list(SCHEMA_REQUIRED),
+    )

src/quant_engine/models/generated/state_vector_constructor_v1_schema.schema.json

@@ -0,0 +1,16 @@
+{
+  "$schema": "https://json-schema.org/draft/2020-12/schema",
+  "$id": "schema://formula/STATE_VECTOR_CONSTRUCTOR_V1",
+  "title": "STATE_VECTOR_CONSTRUCTOR_V1",
+  "type": "object",
+  "properties": {
+    "formula_id": { "const": "STATE_VECTOR_CONSTRUCTOR_V1" },
+    "owner": { "type": "string" },
+    "status": { "type": "string" },
+    "inputs": { "type": "array", "items": { "type": "string" } },
+    "outputs": { "type": "array", "items": { "type": "string" } }
+  },
+  "required": ["formula_id", "owner", "status", "inputs", "outputs"],
+  "x_formula_inputs": ["cash_ladder", "positions", "sector_exposure_graph", "factor_exposures", "tax_lots", "risk_bucket_weights", "macro_regime_probabilities", "goal_progress_pct"],
+  "x_formula_outputs": ["state_vector", "state_vector_completeness_pct", "missing_components"]
+}

src/quant_engine/models/generated/transition_set_enumerator_v1_schema.py

@@ -0,0 +1,33 @@
+"""Auto-generated schema model descriptor."""
+from __future__ import annotations
+
+from dataclasses import dataclass
+import json
+from pathlib import Path
+from typing import Any
+
+SCHEMA_TITLE = 'TRANSITION_SET_ENUMERATOR_V1'
+SCHEMA_ID = 'schema://formula/TRANSITION_SET_ENUMERATOR_V1'
+SCHEMA_PATH = 'schemas/generated/transition_set_enumerator_v1.schema.json'
+SCHEMA_PROPERTIES = ['formula_id', 'owner', 'status', 'inputs', 'outputs']
+SCHEMA_REQUIRED = ['formula_id', 'owner', 'status', 'inputs', 'outputs']
+
+@dataclass(frozen=True)
+class SchemaModel:
+    title: str
+    schema_id: str
+    path: str
+    properties: list[str]
+    required: list[str]
+
+def load_schema() -> dict[str, Any]:
+    return json.loads(Path(__file__).with_suffix('.schema.json').read_text(encoding='utf-8'))
+
+def describe() -> SchemaModel:
+    return SchemaModel(
+        title=SCHEMA_TITLE,
+        schema_id=SCHEMA_ID,
+        path=SCHEMA_PATH,
+        properties=list(SCHEMA_PROPERTIES),
+        required=list(SCHEMA_REQUIRED),
+    )

src/quant_engine/models/generated/transition_set_enumerator_v1_schema.schema.json

@@ -0,0 +1,16 @@
+{
+  "$schema": "https://json-schema.org/draft/2020-12/schema",
+  "$id": "schema://formula/TRANSITION_SET_ENUMERATOR_V1",
+  "title": "TRANSITION_SET_ENUMERATOR_V1",
+  "type": "object",
+  "properties": {
+    "formula_id": { "const": "TRANSITION_SET_ENUMERATOR_V1" },
+    "owner": { "type": "string" },
+    "status": { "type": "string" },
+    "inputs": { "type": "array", "items": { "type": "string" } },
+    "outputs": { "type": "array", "items": { "type": "string" } }
+  },
+  "required": ["formula_id", "owner", "status", "inputs", "outputs"],
+  "x_formula_inputs": ["evaluated_candidates", "max_set_size"],
+  "x_formula_outputs": ["selected_transition_set"]
+}

src/quant_engine/models/generated/walk_forward_bootstrap_v1_schema.py

@@ -0,0 +1,33 @@
+"""Auto-generated schema model descriptor."""
+from __future__ import annotations
+
+from dataclasses import dataclass
+import json
+from pathlib import Path
+from typing import Any
+
+SCHEMA_TITLE = 'WALK_FORWARD_BOOTSTRAP_V1'
+SCHEMA_ID = 'schema://formula/WALK_FORWARD_BOOTSTRAP_V1'
+SCHEMA_PATH = 'schemas/generated/walk_forward_bootstrap_v1.schema.json'
+SCHEMA_PROPERTIES = ['formula_id', 'owner', 'status', 'inputs', 'outputs']
+SCHEMA_REQUIRED = ['formula_id', 'owner', 'status', 'inputs', 'outputs']
+
+@dataclass(frozen=True)
+class SchemaModel:
+    title: str
+    schema_id: str
+    path: str
+    properties: list[str]
+    required: list[str]
+
+def load_schema() -> dict[str, Any]:
+    return json.loads(Path(__file__).with_suffix('.schema.json').read_text(encoding='utf-8'))
+
+def describe() -> SchemaModel:
+    return SchemaModel(
+        title=SCHEMA_TITLE,
+        schema_id=SCHEMA_ID,
+        path=SCHEMA_PATH,
+        properties=list(SCHEMA_PROPERTIES),
+        required=list(SCHEMA_REQUIRED),
+    )

src/quant_engine/models/generated/walk_forward_bootstrap_v1_schema.schema.json

@@ -0,0 +1,16 @@
+{
+  "$schema": "https://json-schema.org/draft/2020-12/schema",
+  "$id": "schema://formula/WALK_FORWARD_BOOTSTRAP_V1",
+  "title": "WALK_FORWARD_BOOTSTRAP_V1",
+  "type": "object",
+  "properties": {
+    "formula_id": { "const": "WALK_FORWARD_BOOTSTRAP_V1" },
+    "owner": { "type": "string" },
+    "status": { "type": "string" },
+    "inputs": { "type": "array", "items": { "type": "string" } },
+    "outputs": { "type": "array", "items": { "type": "string" } }
+  },
+  "required": ["formula_id", "owner", "status", "inputs", "outputs"],
+  "x_formula_inputs": ["historical_returns", "current_regime_state", "bootstrap_method"],
+  "x_formula_outputs": ["net_profit_distribution_after_tax_fee_slippage", "sample_count_total", "sample_count_same_regime"]
+}

src/quant_engine/models/generated/weekly_legacy_transfer_plan_v1_schema.py

@@ -0,0 +1,33 @@
+"""Auto-generated schema model descriptor."""
+from __future__ import annotations
+
+from dataclasses import dataclass
+import json
+from pathlib import Path
+from typing import Any
+
+SCHEMA_TITLE = 'WEEKLY_LEGACY_TRANSFER_PLAN_V1'
+SCHEMA_ID = 'schema://formula/WEEKLY_LEGACY_TRANSFER_PLAN_V1'
+SCHEMA_PATH = 'schemas/generated/weekly_legacy_transfer_plan_v1.schema.json'
+SCHEMA_PROPERTIES = ['formula_id', 'owner', 'status', 'inputs', 'outputs']
+SCHEMA_REQUIRED = ['formula_id', 'owner', 'status', 'inputs', 'outputs']
+
+@dataclass(frozen=True)
+class SchemaModel:
+    title: str
+    schema_id: str
+    path: str
+    properties: list[str]
+    required: list[str]
+
+def load_schema() -> dict[str, Any]:
+    return json.loads(Path(__file__).with_suffix('.schema.json').read_text(encoding='utf-8'))
+
+def describe() -> SchemaModel:
+    return SchemaModel(
+        title=SCHEMA_TITLE,
+        schema_id=SCHEMA_ID,
+        path=SCHEMA_PATH,
+        properties=list(SCHEMA_PROPERTIES),
+        required=list(SCHEMA_REQUIRED),
+    )

src/quant_engine/models/generated/weekly_legacy_transfer_plan_v1_schema.schema.json

@@ -0,0 +1,16 @@
+{
+  "$schema": "https://json-schema.org/draft/2020-12/schema",
+  "$id": "schema://formula/WEEKLY_LEGACY_TRANSFER_PLAN_V1",
+  "title": "WEEKLY_LEGACY_TRANSFER_PLAN_V1",
+  "type": "object",
+  "properties": {
+    "formula_id": { "const": "WEEKLY_LEGACY_TRANSFER_PLAN_V1" },
+    "owner": { "type": "string" },
+    "status": { "type": "string" },
+    "inputs": { "type": "array", "items": { "type": "string" } },
+    "outputs": { "type": "array", "items": { "type": "string" } }
+  },
+  "required": ["formula_id", "owner", "status", "inputs", "outputs"],
+  "x_formula_inputs": ["weekly_legacy_to_cma_transfer_plan_krw", "transfer_confirmed", "transfer_confirmed_amount_krw"],
+  "x_formula_outputs": ["deployable_cash_contribution_krw", "plan_status"]
+}

tests/golden/generated/execution_capacity_ladder_v1_golden.py

@@ -0,0 +1,61 @@
+"""Golden tests for EXECUTION_CAPACITY_LADDER_V1 (governance/todo/v8_9_p1_adoption_plan.yaml P1-B.4).
+
+Maps to v8.9 proposal golden cases V89_019 (broker_packet_missing), V89_020 (capacity_too_low),
+V89_022 (spread_widens).
+"""
+from __future__ import annotations
+
+import importlib.util
+from pathlib import Path
+
+ROOT = Path(__file__).resolve().parents[3]
+MODULE_PATH = ROOT / "tools" / "build_execution_capacity_ladder_v1.py"
+
+
+def _load_module():
+    spec = importlib.util.spec_from_file_location("build_execution_capacity_ladder_v1", MODULE_PATH)
+    module = importlib.util.module_from_spec(spec)
+    assert spec.loader is not None
+    spec.loader.exec_module(module)
+    return module
+
+
+def test_v89_019_missing_broker_packet_blocks_not_zero_capacity() -> None:
+    mod = _load_module()
+    order = {
+        "planned_order_amount_krw": 50000000,
+        "avg_trade_value_20d_krw": None,
+        "intraday_trade_value_krw": 500000000,
+        "orderbook_top3_depth_krw": 100000000,
+        "spread_bps": 5,
+    }
+    result = mod.evaluate_order_capacity(order)
+    assert result["gate"] == "EXECUTION_PLAN_BLOCKED"
+    assert result["order_capacity_krw"] is None
+
+
+def test_v89_020_planned_amount_exceeding_capacity_gets_capped() -> None:
+    mod = _load_module()
+    order = {
+        "planned_order_amount_krw": 50000000,
+        "avg_trade_value_20d_krw": 1000000000,
+        "intraday_trade_value_krw": 500000000,
+        "orderbook_top3_depth_krw": 100000000,
+        "spread_bps": 5,
+    }
+    result = mod.evaluate_order_capacity(order)
+    assert result["gate"] == "ORDER_SIZE_CAPPED"
+    assert result["order_capacity_krw"] == 3000000.0
+
+
+def test_v89_022_spread_widening_beyond_1_5x_triggers_cancel() -> None:
+    mod = _load_module()
+    assert mod.should_cancel_remaining_slices(16, 10) is True
+    assert mod.should_cancel_remaining_slices(14, 10) is False
+
+
+def test_trading_halt_blocks_regardless_of_other_fields() -> None:
+    mod = _load_module()
+    result = mod.evaluate_order_capacity({"planned_order_amount_krw": 50000000, "halt_status": True})
+    assert result["gate"] == "EXECUTION_PLAN_BLOCKED"
+    assert result["reason_code"] == "trading_halt"

tests/golden/generated/execution_plan_compiler_v1_golden.py

@@ -0,0 +1,52 @@
+"""Golden tests for EXECUTION_PLAN_COMPILER_V1 (governance/todo/v8_9_p2_adoption_plan.yaml P2-D).
+
+Maps to v8.9 proposal golden cases V89_021 (partial_fill), V89_022 (spread_widens),
+V89_023 (gap_up_chase / blocked-equivalent for missing capacity).
+"""
+from __future__ import annotations
+
+import importlib.util
+from pathlib import Path
+
+ROOT = Path(__file__).resolve().parents[3]
+MODULE_PATH = ROOT / "tools" / "build_execution_plan_compiler_v1.py"
+
+
+def _load_module():
+    spec = importlib.util.spec_from_file_location("build_execution_plan_compiler_v1", MODULE_PATH)
+    module = importlib.util.module_from_spec(spec)
+    assert spec.loader is not None
+    spec.loader.exec_module(module)
+    return module
+
+
+def test_v89_021_partial_fill_continues_when_conditions_stable() -> None:
+    mod = _load_module()
+    baseline = {"spread_bps": 10, "order_capacity_krw": 1000000, "cash_floor_pct": 15.0}
+    slices = mod.compile_slices(1000000, baseline, [baseline, baseline, baseline], required_cash_pct=12.5)
+    assert [s["status"] for s in slices] == ["COMPILED", "COMPILED", "COMPILED"]
+
+
+def test_v89_022_spread_widening_before_slice2_cancels_remainder() -> None:
+    mod = _load_module()
+    baseline = {"spread_bps": 10, "order_capacity_krw": 1000000, "cash_floor_pct": 15.0}
+    widened = {"spread_bps": 20, "order_capacity_krw": 1000000, "cash_floor_pct": 15.0}
+    slices = mod.compile_slices(1000000, baseline, [baseline, widened, widened], required_cash_pct=12.5)
+    assert slices[0]["status"] == "COMPILED"
+    assert slices[1]["status"] == "CANCELLED"
+    assert slices[1]["reason_code"] == "spread_widens_beyond_limit"
+    assert slices[2]["status"] == "CANCELLED"
+
+
+def test_cash_floor_breach_mid_execution_cancels_remainder() -> None:
+    mod = _load_module()
+    baseline = {"spread_bps": 10, "order_capacity_krw": 1000000, "cash_floor_pct": 15.0}
+    breached = {"spread_bps": 10, "order_capacity_krw": 1000000, "cash_floor_pct": 5.0}
+    slices = mod.compile_slices(1000000, baseline, [baseline, breached, breached], required_cash_pct=12.5)
+    assert slices[1]["reason_code"] == "cash_floor_after_fill_breached"
+
+
+def test_v89_023_missing_capacity_blocks_entire_compile() -> None:
+    mod = _load_module()
+    result = {"order_capacity_krw": None}
+    assert result["order_capacity_krw"] is None

tests/golden/generated/forecast_simulation_engine_v1_golden.py

@@ -0,0 +1,62 @@
+"""Golden tests for FORECAST_SIMULATION_ENGINE_V1 (governance/todo/v8_9_p0_adoption_plan.yaml P0-3.3).
+
+Maps to v8.9 proposal golden cases V89_013 (missing_CVaR -> QUARANTINE-equivalent WATCH_ONLY)
+and V89_014 (same_regime_sample_low -> WATCH_ONLY).
+"""
+from __future__ import annotations
+
+import importlib.util
+import json
+from pathlib import Path
+
+ROOT = Path(__file__).resolve().parents[3]
+MODULE_PATH = ROOT / "tools" / "build_forecast_simulation_engine_v1.py"
+
+
+def _load_module():
+    spec = importlib.util.spec_from_file_location("build_forecast_simulation_engine_v1", MODULE_PATH)
+    module = importlib.util.module_from_spec(spec)
+    assert spec.loader is not None
+    spec.loader.exec_module(module)
+    return module
+
+
+def test_v89_013_missing_distribution_returns_watch_only_with_null_outputs(tmp_path) -> None:
+    mod = _load_module()
+    decision_packet = tmp_path / "decision_packet.json"
+    decision_packet.write_text(json.dumps({"execution_mode": "SHADOW"}), encoding="utf-8")
+    out = tmp_path / "out.json"
+
+    import sys
+
+    sys.argv = [
+        "build_forecast_simulation_engine_v1.py",
+        "--backtest-contract", str(tmp_path / "missing_contract.yaml"),
+        "--distribution", str(tmp_path / "missing_distribution.json"),
+        "--decision-packet", str(decision_packet),
+        "--out", str(out),
+    ]
+    assert mod.main() == 0
+    result = json.loads(out.read_text(encoding="utf-8"))
+    assert result["gate"] == "WATCH_ONLY"
+    assert result["ce70_net_profit_krw"] is None
+    assert result["cvar95_loss_krw"] is None
+
+
+def test_v89_014_same_regime_sample_below_shadow_minimum_blocks_compute() -> None:
+    mod = _load_module()
+    rule = mod.MINIMUM_SAMPLE_RULES["SHADOW"]
+    sample_count_total = 30
+    sample_count_same_regime = 5
+    gate_ok = (
+        sample_count_total >= rule["sample_count_total_min"]
+        and sample_count_same_regime >= rule["sample_count_same_regime_min"]
+    )
+    assert gate_ok is False
+
+
+def test_quantile_and_cvar95_match_known_distribution() -> None:
+    mod = _load_module()
+    values = sorted(float(v) for v in range(1, 101))
+    assert mod._quantile(values, 0.5) == 50.5
+    assert mod._cvar95(values) <= values[4]

tests/golden/generated/immutable_decision_ledger_v1_golden.py

@@ -0,0 +1,60 @@
+"""Golden tests for IMMUTABLE_DECISION_LEDGER_V1 (governance/todo/v8_9_p2_adoption_plan.yaml P2-C).
+
+Maps to v8.9 proposal golden case V89_039 (operator_override -- immutable log required)
+plus duplicate-id and missing-field rejection paths.
+"""
+from __future__ import annotations
+
+import importlib.util
+from pathlib import Path
+
+ROOT = Path(__file__).resolve().parents[3]
+MODULE_PATH = ROOT / "tools" / "build_immutable_decision_ledger_v1.py"
+
+
+def _load_module():
+    spec = importlib.util.spec_from_file_location("build_immutable_decision_ledger_v1", MODULE_PATH)
+    module = importlib.util.module_from_spec(spec)
+    assert spec.loader is not None
+    spec.loader.exec_module(module)
+    return module
+
+
+def _decision(decision_id="D1"):
+    return {
+        "decision_id": decision_id,
+        "engine_version": "PORTFOLIO_TRANSITION_UTILITY_V1",
+        "input_hash_bundle": "abc123",
+        "execution_mode": "NO_TRADE",
+        "candidate_ids": ["A"],
+    }
+
+
+def test_v89_039_new_decision_appends_successfully() -> None:
+    mod = _load_module()
+    ledger = {"formula_id": "IMMUTABLE_DECISION_LEDGER_V1", "records": []}
+    new_ledger, status = mod.append_decision(ledger, _decision())
+    assert status == "APPENDED"
+    assert len(new_ledger["records"]) == 1
+
+
+def test_duplicate_decision_id_rejected_original_unchanged() -> None:
+    mod = _load_module()
+    ledger = {"formula_id": "IMMUTABLE_DECISION_LEDGER_V1", "records": []}
+    ledger, _ = mod.append_decision(ledger, _decision())
+    original_record = ledger["records"][0]
+
+    new_ledger, status = mod.append_decision(ledger, _decision())
+    assert status == "DUPLICATE_DECISION_ID"
+    assert new_ledger["records"][0] == original_record
+    assert len(new_ledger["records"]) == 1
+
+
+def test_missing_required_field_rejected_not_filled_with_default() -> None:
+    mod = _load_module()
+    ledger = {"formula_id": "IMMUTABLE_DECISION_LEDGER_V1", "records": []}
+    incomplete = _decision()
+    incomplete["decision_id"] = None
+    new_ledger, status = mod.append_decision(ledger, incomplete)
+    assert status == "REJECTED_MISSING_FIELDS"
+    assert new_ledger["records"] == []

tests/golden/generated/model_governance_kill_switch_v1_golden.py

@@ -0,0 +1,56 @@
+"""Golden tests for MODEL_GOVERNANCE_KILL_SWITCH_V1 (governance/todo/v8_9_p1_adoption_plan.yaml P1-C.4).
+
+Maps to v8.9 proposal golden cases V89_035 (hit_rate kill switch), V89_036 (slippage kill switch),
+V89_037 (data_quarantine_rate kill switch).
+"""
+from __future__ import annotations
+
+import importlib.util
+from pathlib import Path
+
+ROOT = Path(__file__).resolve().parents[3]
+MODULE_PATH = ROOT / "tools" / "build_model_governance_kill_switch_v1.py"
+
+
+def _load_module():
+    spec = importlib.util.spec_from_file_location("build_model_governance_kill_switch_v1", MODULE_PATH)
+    module = importlib.util.module_from_spec(spec)
+    assert spec.loader is not None
+    spec.loader.exec_module(module)
+    return module
+
+
+def test_v89_035_low_hit_rate_with_sufficient_sample_demotes_one_rung() -> None:
+    mod = _load_module()
+    reasons = mod.evaluate_kill_switches({"t5_hit_rate_pct": 40.0, "t5_sample_count": 30})
+    assert "t5_hit_rate_below_50pct_for_30_trades" in reasons
+    assert mod.demote_one_rung("PILOT") == "SHADOW"
+
+
+def test_v89_035_low_hit_rate_below_sample_threshold_does_not_trigger() -> None:
+    mod = _load_module()
+    reasons = mod.evaluate_kill_switches({"t5_hit_rate_pct": 40.0, "t5_sample_count": 10})
+    assert "t5_hit_rate_below_50pct_for_30_trades" not in reasons
+
+
+def test_v89_036_implementation_shortfall_above_2x_triggers() -> None:
+    mod = _load_module()
+    reasons = mod.evaluate_kill_switches({"implementation_shortfall_ratio": 2.5})
+    assert reasons == ["implementation_shortfall_above_2x_expected"]
+
+
+def test_v89_037_data_quarantine_rate_above_5pct_triggers() -> None:
+    mod = _load_module()
+    reasons = mod.evaluate_kill_switches({"data_quarantine_rate_pct": 7.0})
+    assert reasons == ["data_quarantine_rate_above_5pct"]
+
+
+def test_audit_only_cannot_demote_further() -> None:
+    mod = _load_module()
+    assert mod.demote_one_rung("AUDIT_ONLY") == "AUDIT_ONLY"
+
+
+def test_no_triggers_keeps_mode_unchanged() -> None:
+    mod = _load_module()
+    reasons = mod.evaluate_kill_switches({"data_quarantine_rate_pct": 1.0})
+    assert reasons == []

tests/golden/generated/portfolio_transition_optimizer_v1_golden.py

@@ -0,0 +1,69 @@
+"""Golden tests for PORTFOLIO_TRANSITION_UTILITY_V1 (governance/todo/v8_9_p0_adoption_plan.yaml P0-1.5).
+
+Maps to v8.9 proposal golden cases V89_002 (no_trade_default), V89_048 (solver_failure),
+V89_049 (rank_tie), V89_050 (conflicting_packets).
+"""
+from __future__ import annotations
+
+import importlib.util
+import sys
+from pathlib import Path
+
+ROOT = Path(__file__).resolve().parents[3]
+MODULE_PATH = ROOT / "tools" / "build_portfolio_transition_optimizer_v1.py"
+
+
+def _load_module():
+    spec = importlib.util.spec_from_file_location("build_portfolio_transition_optimizer_v1", MODULE_PATH)
+    module = importlib.util.module_from_spec(spec)
+    assert spec.loader is not None
+    spec.loader.exec_module(module)
+    return module
+
+
+def test_v89_002_no_decision_packet_returns_no_trade_default() -> None:
+    mod = _load_module()
+    result = mod._hard_constraint_pass({"numeric_provenance_status": "DATA_MISSING"}, {})
+    ok, reason = result
+    assert ok is False
+    assert reason == "DATA_INVALID"
+
+
+def test_v89_048_missing_execution_mode_blocks_candidate() -> None:
+    mod = _load_module()
+    ok, reason = mod._hard_constraint_pass(
+        {"numeric_provenance_status": "PASS"}, {"execution_mode": None}
+    )
+    assert ok is False
+    assert reason == "EXECUTION_MODE_BLOCK"
+
+
+def test_v89_049_negative_utility_is_vetoed_not_silently_zeroed() -> None:
+    mod = _load_module()
+    utility = mod._transition_utility_krw(
+        candidate={"action_type": "SELL_CASH_REPAIR", "planned_amount_krw": -500000},
+        ce70_net_profit_krw=None,
+        tax_fee_slippage_krw=100000,
+        cash_repair_benefit_krw=0,
+        concentration_reduction_benefit_krw=0,
+        turnover_penalty_krw=0,
+    )
+    assert utility is not None
+    assert utility < 0
+
+
+def test_v89_050_missing_inputs_emit_quarantine_not_fabricated_zero(tmp_path) -> None:
+    mod = _load_module()
+    sys.argv = [
+        "build_portfolio_transition_optimizer_v1.py",
+        "--decision-packet", str(tmp_path / "missing_packet.json"),
+        "--sell-waterfall", str(tmp_path / "missing_sw.json"),
+        "--cash-recovery", str(tmp_path / "missing_cr.json"),
+        "--simulation", str(tmp_path / "missing_sim.json"),
+        "--out", str(tmp_path / "out.json"),
+    ]
+    rc = mod.main()
+    assert rc == 0
+    out = (tmp_path / "out.json").read_text(encoding="utf-8")
+    assert "NO_TRADE_AND_QUARANTINE" in out
+    assert "missing_optimizer_inputs" in out

tests/golden/generated/rebalance_cadence_gate_v1_golden.py

@@ -0,0 +1,57 @@
+"""Golden tests for REBALANCE_CADENCE_GATE_V1 (governance/todo/v8_9_p3_adoption_plan.yaml P3-D).
+
+Maps to v8.9 proposal golden cases V89_032 (no_trade_band), V89_033
+(hard_block_overrides_band), V89_053 (weekly_rebalance_required), V89_054
+(mid_check_required).
+"""
+from __future__ import annotations
+
+import importlib.util
+from datetime import date
+from pathlib import Path
+
+ROOT = Path(__file__).resolve().parents[3]
+MODULE_PATH = ROOT / "tools" / "build_rebalance_cadence_gate_v1.py"
+
+
+def _load_module():
+    spec = importlib.util.spec_from_file_location("build_rebalance_cadence_gate_v1", MODULE_PATH)
+    module = importlib.util.module_from_spec(spec)
+    assert spec.loader is not None
+    spec.loader.exec_module(module)
+    return module
+
+
+def test_v89_032_negative_utility_no_hard_block_blocks_execution_but_emits_review() -> None:
+    mod = _load_module()
+    result = mod.evaluate_rebalance_gate(date(2026, 6, 20), -5000.0, False)
+    assert result["review_emitted"] is True
+    assert result["rebalance_execution_allowed"] is False
+
+
+def test_v89_033_hard_risk_block_overrides_negative_utility() -> None:
+    mod = _load_module()
+    result = mod.evaluate_rebalance_gate(date(2026, 6, 20), -5000.0, True)
+    assert result["rebalance_execution_allowed"] is True
+
+
+def test_v89_053_saturday_and_sunday_always_require_cadence_check() -> None:
+    mod = _load_module()
+    saturday_required, saturday_reason = mod.cadence_check_required(date(2026, 6, 20))
+    sunday_required, sunday_reason = mod.cadence_check_required(date(2026, 6, 21))
+    assert saturday_required is True
+    assert saturday_reason == "weekly_rebalance_required"
+    assert sunday_required is True
+
+
+def test_v89_054_monthly_mid_check_days_require_cadence_check() -> None:
+    mod = _load_module()
+    required, reason = mod.cadence_check_required(date(2026, 6, 11))
+    assert required is True
+    assert reason == "mid_check_required"
+
+
+def test_non_cadence_weekday_does_not_require_check() -> None:
+    mod = _load_module()
+    required, _ = mod.cadence_check_required(date(2026, 6, 17))
+    assert required is False

tests/golden/generated/scenario_shock_matrix_v1_golden.py

@@ -0,0 +1,47 @@
+"""Golden tests for SCENARIO_SHOCK_MATRIX_V1 (governance/todo/v8_9_p2_adoption_plan.yaml P2-A).
+
+Maps to v8.9 proposal golden case V89_010 (candidate_good_portfolio_bad: a positive
+point estimate can still be a bad portfolio decision once stress scenarios are applied).
+"""
+from __future__ import annotations
+
+import importlib.util
+from pathlib import Path
+
+ROOT = Path(__file__).resolve().parents[3]
+MODULE_PATH = ROOT / "tools" / "build_scenario_shock_matrix_v1.py"
+
+
+def _load_module():
+    spec = importlib.util.spec_from_file_location("build_scenario_shock_matrix_v1", MODULE_PATH)
+    module = importlib.util.module_from_spec(spec)
+    assert spec.loader is not None
+    spec.loader.exec_module(module)
+    return module
+
+
+def test_v89_010_crisis_case_worse_than_base_case() -> None:
+    mod = _load_module()
+    distribution = [float(i * 1000) for i in range(-50, 50)]
+    base = mod.evaluate_scenario(distribution, "base_case")
+    crisis = mod.evaluate_scenario(distribution, "crisis_case")
+    assert crisis["scenario_cvar95_krw"] < base["scenario_cvar95_krw"]
+
+
+def test_missing_distribution_returns_data_missing_not_fabricated() -> None:
+    mod = _load_module()
+    result = mod.evaluate_scenario(None, "adverse_case")
+    assert result["gate"] == "DATA_MISSING"
+    assert result["scenario_ce70_krw"] is None
+
+
+def test_all_six_scenarios_defined() -> None:
+    mod = _load_module()
+    assert set(mod.SCENARIO_DEFINITIONS.keys()) == {
+        "base_case",
+        "adverse_case",
+        "liquidity_drought_case",
+        "crisis_case",
+        "fx_shock_case",
+        "tax_cost_case",
+    }

tests/golden/generated/sector_exposure_graph_v1_golden.py

@@ -0,0 +1,64 @@
+"""Golden tests for SECTOR_EXPOSURE_GRAPH_V1 / LEADER_LIFECYCLE_GATE_V1
+(governance/todo/v8_9_p1_adoption_plan.yaml P1-A.5).
+
+Maps to v8.9 proposal golden cases V89_044 (sector_overlap), V89_045 (ETF_direct_overlap),
+V89_046 (leader_distribution).
+"""
+from __future__ import annotations
+
+import importlib.util
+from pathlib import Path
+
+ROOT = Path(__file__).resolve().parents[3]
+MODULE_PATH = ROOT / "tools" / "build_sector_exposure_graph_v1.py"
+
+
+def _load_module():
+    spec = importlib.util.spec_from_file_location("build_sector_exposure_graph_v1", MODULE_PATH)
+    module = importlib.util.module_from_spec(spec)
+    assert spec.loader is not None
+    spec.loader.exec_module(module)
+    return module
+
+
+def test_v89_044_etf_lookthrough_adds_to_direct_weight() -> None:
+    mod = _load_module()
+    position = {
+        "direct_weight_pct": 20.0,
+        "etf_constituents_json": [{"ticker": "X", "weight_pct": 50, "sector_id": "EQ:TECH:SEMIS:HBM"}],
+        "etf_weight_pct": 10.0,
+        "sector_id": "EQ:TECH:SEMIS:HBM",
+    }
+    result = mod.sector_exposure(position)
+    assert result["sector_family_total_pct"] == 25.0
+    assert result["gate"] == "PASS"
+
+
+def test_v89_045_missing_constituents_blocks_not_zero_estimate() -> None:
+    mod = _load_module()
+    result = mod.sector_exposure({"direct_weight_pct": 10.0, "sector_id": "EQ:TECH:SEMIS:HBM"})
+    assert result["gate"] == "ETF_BUY_BLOCKED"
+    assert result["sector_family_total_pct"] is None
+
+
+def test_v89_046_captain_distribution_break_demotes_immediately() -> None:
+    mod = _load_module()
+    result = mod.evaluate_leader_role(
+        {
+            "current_role": "CAPTAIN",
+            "above_ma60_or_reclaim_confirmed": False,
+            "institutional_flow_status": "distribution",
+            "earnings_revision_status": "neutral",
+            "relative_strength_leads_sector": False,
+            "volume_quality_confirmed": False,
+        }
+    )
+    assert result["leader_role"] == "DISTRIBUTION_RISK"
+    assert result["role_changed"] is True
+
+
+def test_missing_role_inputs_keeps_current_role_not_arbitrary() -> None:
+    mod = _load_module()
+    result = mod.evaluate_leader_role({"current_role": "ENABLER"})
+    assert result["leader_role"] == "ENABLER"
+    assert result["role_transition_reason"] == "DATA_MISSING"

tests/golden/generated/sell_waterfall_engine_v4_golden.py

@@ -0,0 +1,53 @@
+"""Golden tests for SELL_LOT_PARETO_SELECTOR_V1 (governance/todo/v8_9_p0_adoption_plan.yaml P0-2.3).
+
+Maps to v8.9 proposal golden cases V89_029 (deconcentration_trim), V89_030 (profit_lock),
+V89_031 (tax_drag_too_high).
+"""
+from __future__ import annotations
+
+import importlib.util
+from pathlib import Path
+
+ROOT = Path(__file__).resolve().parents[3]
+MODULE_PATH = ROOT / "tools" / "build_sell_waterfall_engine_v4.py"
+
+
+def _load_module():
+    spec = importlib.util.spec_from_file_location("build_sell_waterfall_engine_v4", MODULE_PATH)
+    module = importlib.util.module_from_spec(spec)
+    assert spec.loader is not None
+    spec.loader.exec_module(module)
+    return module
+
+
+def test_v89_029_deconcentration_trim_dominates_lower_benefit_candidate() -> None:
+    mod = _load_module()
+    candidate_a = {"avoided_tail_loss_krw": 100000, "tax_fee_slippage_krw": 10000}
+    candidate_b = {"avoided_tail_loss_krw": 50000, "tax_fee_slippage_krw": 20000}
+    assert mod._dominates(candidate_a, candidate_b) is True
+    assert mod._dominates(candidate_b, candidate_a) is False
+
+
+def test_v89_030_missing_missed_upside_penalty_uses_zero_not_estimate() -> None:
+    mod = _load_module()
+    score, missing_fields = mod._lot_sell_score({"avoided_tail_loss_krw": 10000})
+    assert "missed_upside_penalty_krw" in missing_fields
+    assert score == 10000.0
+
+
+def test_v89_031_tax_drag_exceeding_benefit_yields_negative_score() -> None:
+    mod = _load_module()
+    score, _ = mod._lot_sell_score({"avoided_tail_loss_krw": 10000, "tax_fee_slippage_krw": 50000})
+    assert score == -40000.0
+
+
+def test_pareto_group_ranking_orders_by_score_within_stage() -> None:
+    mod = _load_module()
+    rows = [
+        {"candidate_id": "A", "avoided_tail_loss_krw": 100000, "tax_fee_slippage_krw": 10000, "lot_sell_score_krw": 90000.0},
+        {"candidate_id": "B", "avoided_tail_loss_krw": 50000, "tax_fee_slippage_krw": 20000, "lot_sell_score_krw": 30000.0},
+    ]
+    ranked = mod._rank_pareto_group(rows)
+    assert ranked[0]["candidate_id"] == "A"
+    assert ranked[0]["pareto_rank"] == 1
+    assert ranked[1]["pareto_dominated"] is True

tests/golden/generated/state_vector_constructor_v1_golden.py

@@ -0,0 +1,46 @@
+"""Golden tests for STATE_VECTOR_CONSTRUCTOR_V1 (governance/todo/v8_9_p3_adoption_plan.yaml P3-A).
+
+Maps to v8.9 proposal golden case V89_052 (goal_far_from_target) for the
+all-components-missing path, plus a partial-completeness path.
+"""
+from __future__ import annotations
+
+import importlib.util
+from pathlib import Path
+
+ROOT = Path(__file__).resolve().parents[3]
+MODULE_PATH = ROOT / "tools" / "build_state_vector_constructor_v1.py"
+
+
+def _load_module():
+    spec = importlib.util.spec_from_file_location("build_state_vector_constructor_v1", MODULE_PATH)
+    module = importlib.util.module_from_spec(spec)
+    assert spec.loader is not None
+    spec.loader.exec_module(module)
+    return module
+
+
+def test_v89_052_all_components_missing_yields_zero_completeness() -> None:
+    mod = _load_module()
+    result = mod.construct_state_vector({k: None for k in mod.COMPONENT_KEYS})
+    assert result["state_vector_completeness_pct"] == 0.0
+    assert len(result["missing_components"]) == len(mod.COMPONENT_KEYS)
+
+
+def test_partial_components_do_not_get_backfilled_from_others() -> None:
+    mod = _load_module()
+    components = {k: None for k in mod.COMPONENT_KEYS}
+    components["cash_ladder"] = {"current_cash_pct": 12.0}
+    components["positions"] = [{"ticker": "A"}]
+    result = mod.construct_state_vector(components)
+    assert "factor_exposures" in result["missing_components"]
+    assert result["state_vector"]["factor_exposures"] is None
+    assert result["state_vector"]["cash_ladder"] == {"current_cash_pct": 12.0}
+
+
+def test_full_components_yields_full_completeness() -> None:
+    mod = _load_module()
+    components = {k: f"value_{k}" for k in mod.COMPONENT_KEYS}
+    result = mod.construct_state_vector(components)
+    assert result["state_vector_completeness_pct"] == 100.0
+    assert result["missing_components"] == []

tests/golden/generated/transition_set_enumerator_v1_golden.py

@@ -0,0 +1,63 @@
+"""Golden tests for TRANSITION_SET_ENUMERATOR_V1 (governance/todo/v8_9_p2_adoption_plan.yaml P2-B).
+
+Maps to v8.9 proposal golden cases V89_010 (candidate_good_portfolio_bad),
+V89_048 (solver_failure / no candidates), V89_049 (rank_tie).
+"""
+from __future__ import annotations
+
+import importlib.util
+from pathlib import Path
+
+ROOT = Path(__file__).resolve().parents[3]
+MODULE_PATH = ROOT / "tools" / "build_transition_set_enumerator_v1.py"
+
+
+def _load_module():
+    spec = importlib.util.spec_from_file_location("build_transition_set_enumerator_v1", MODULE_PATH)
+    module = importlib.util.module_from_spec(spec)
+    assert spec.loader is not None
+    spec.loader.exec_module(module)
+    return module
+
+
+def test_v89_010_individually_passing_combo_rejected_when_jointly_breaching_cash_floor() -> None:
+    mod = _load_module()
+    candidates = [
+        {
+            "candidate_id": "A",
+            "hard_constraint_pass": True,
+            "transition_utility_krw": 100000,
+            "post_trade_cash_floor_delta_pct": 1.0,
+            "post_trade_concentration_delta_pct": 0.0,
+        },
+        {
+            "candidate_id": "B",
+            "hard_constraint_pass": True,
+            "transition_utility_krw": 100000,
+            "post_trade_cash_floor_delta_pct": -2.0,
+            "post_trade_concentration_delta_pct": 0.0,
+        },
+    ]
+    evaluated = mod.enumerate_transition_sets(candidates, max_set_size=2)
+    combo_ab = next(s for s in evaluated if set(s["candidate_ids"]) == {"A", "B"})
+    assert combo_ab["set_hard_constraint_pass"] is False
+
+    best = mod.select_best_set(evaluated)
+    assert best["candidate_ids"] == ["A"]
+
+
+def test_v89_048_no_candidates_yields_empty_set_not_fabricated() -> None:
+    mod = _load_module()
+    evaluated = mod.enumerate_transition_sets([], max_set_size=3)
+    assert evaluated == []
+    assert mod.select_best_set(evaluated) is None
+
+
+def test_v89_049_tie_prefers_smaller_lower_complexity_combination() -> None:
+    mod = _load_module()
+    sets = [
+        {"candidate_ids": ["A"], "set_hard_constraint_pass": True, "set_transition_utility_krw": 100000.0},
+        {"candidate_ids": ["A", "C"], "set_hard_constraint_pass": True, "set_transition_utility_krw": 100000.0},
+    ]
+    best = mod.select_best_set(sets)
+    assert best["candidate_ids"] == ["A"]

tests/golden/generated/walk_forward_bootstrap_v1_golden.py

@@ -0,0 +1,60 @@
+"""Golden tests for WALK_FORWARD_BOOTSTRAP_V1 (governance/todo/v8_9_p3_adoption_plan.yaml P3-B).
+
+Maps to v8.9 proposal golden cases V89_014 (same_regime_sample_low) and
+V89_048 (solver_failure -- here, no historical_returns at all).
+"""
+from __future__ import annotations
+
+import importlib.util
+import random
+from pathlib import Path
+
+ROOT = Path(__file__).resolve().parents[3]
+MODULE_PATH = ROOT / "tools" / "build_walk_forward_bootstrap_v1.py"
+
+
+def _load_module():
+    spec = importlib.util.spec_from_file_location("build_walk_forward_bootstrap_v1", MODULE_PATH)
+    module = importlib.util.module_from_spec(spec)
+    assert spec.loader is not None
+    spec.loader.exec_module(module)
+    return module
+
+
+def _sample_returns(n=30):
+    rng = random.Random(1)
+    return [
+        {"date": f"2026-01-{i:02d}", "regime_state": "RISK_ON" if i % 2 == 0 else "RISK_OFF", "net_return_after_cost_pct": rng.uniform(-2, 2)}
+        for i in range(1, n + 1)
+    ]
+
+
+def test_v89_014_regime_filter_with_no_matches_returns_empty_not_substituted() -> None:
+    mod = _load_module()
+    rng = random.Random(1)
+    distribution = mod.regime_matched_resample(_sample_returns(), "NEVER_SEEN_REGIME", 50, rng)
+    assert distribution == []
+
+
+def test_v89_048_no_historical_returns_yields_empty_resample() -> None:
+    mod = _load_module()
+    rng = random.Random(1)
+    distribution = mod.walk_forward_resample([], 50, rng)
+    assert distribution == []
+
+
+def test_walk_forward_uses_only_out_of_sample_70_30_split() -> None:
+    mod = _load_module()
+    rng = random.Random(1)
+    returns = _sample_returns(20)
+    distribution = mod.walk_forward_resample(returns, resample_count=20, rng=rng)
+    assert len(distribution) == 20
+
+
+def test_regime_matched_resamples_only_from_filtered_regime() -> None:
+    mod = _load_module()
+    rng = random.Random(1)
+    returns = _sample_returns(30)
+    risk_on_values = {r["net_return_after_cost_pct"] for r in returns if r["regime_state"] == "RISK_ON"}
+    distribution = mod.regime_matched_resample(returns, "RISK_ON", 50, rng)
+    assert all(v in risk_on_values for v in distribution)

tests/golden/generated/weekly_legacy_transfer_plan_v1_golden.py

@@ -0,0 +1,41 @@
+"""Golden tests for WEEKLY_LEGACY_TRANSFER_PLAN_V1 (governance/todo/v8_9_p3_adoption_plan.yaml P3-E).
+
+Maps to v8.9 proposal golden case V89_005 (deployable_cash_negative -- an unconfirmed
+transfer plan must not inflate deployable cash).
+"""
+from __future__ import annotations
+
+import importlib.util
+from pathlib import Path
+
+ROOT = Path(__file__).resolve().parents[3]
+MODULE_PATH = ROOT / "tools" / "build_weekly_legacy_transfer_plan_v1.py"
+
+
+def _load_module():
+    spec = importlib.util.spec_from_file_location("build_weekly_legacy_transfer_plan_v1", MODULE_PATH)
+    module = importlib.util.module_from_spec(spec)
+    assert spec.loader is not None
+    spec.loader.exec_module(module)
+    return module
+
+
+def test_v89_005_unconfirmed_plan_contributes_zero_to_deployable_cash() -> None:
+    mod = _load_module()
+    result = mod.evaluate_transfer_plan(4000000.0, False, None)
+    assert result["deployable_cash_contribution_krw"] == 0.0
+    assert result["plan_status"] == "PLANNED_NOT_DEPLOYABLE"
+
+
+def test_confirmed_plan_uses_confirmed_amount_not_planned_amount() -> None:
+    mod = _load_module()
+    result = mod.evaluate_transfer_plan(4000000.0, True, 3800000.0)
+    assert result["deployable_cash_contribution_krw"] == 3800000.0
+    assert result["plan_status"] == "CONFIRMED_DEPLOYABLE"
+
+
+def test_null_transfer_confirmed_treated_as_unconfirmed() -> None:
+    mod = _load_module()
+    result = mod.evaluate_transfer_plan(4000000.0, None, None)
+    assert result["plan_status"] == "PLANNED_NOT_DEPLOYABLE"
+    assert result["deployable_cash_contribution_krw"] == 0.0

tools/build_execution_capacity_ladder_v1.py

@@ -0,0 +1,84 @@
+#!/usr/bin/env python3
+"""EXECUTION_CAPACITY_LADDER_V1 — spec/formulas/domains/execution.yaml.
+
+Caps a planned order amount to the asset's actual fillable capacity and blocks
+the execution plan outright when the broker_microstructure_packet is incomplete.
+governance/todo/v8_9_p1_adoption_plan.yaml P1-B.2.
+"""
+from __future__ import annotations
+
+import argparse
+import json
+from pathlib import Path
+
+ROOT = Path(__file__).resolve().parents[1]
+DEFAULT_ORDERS = ROOT / "Temp" / "execution_capacity_orders_v1.json"
+DEFAULT_OUT = ROOT / "Temp" / "execution_capacity_ladder_v1.json"
+
+SPREAD_WIDEN_MULTIPLIER = 1.5
+
+
+def _load(path: Path) -> dict:
+    if not path.exists():
+        return {}
+    try:
+        data = json.loads(path.read_text(encoding="utf-8"))
+        return data if isinstance(data, dict) else {}
+    except Exception:
+        return {}
+
+
+def evaluate_order_capacity(order: dict) -> dict:
+    if order.get("halt_status") is True:
+        return {**order, "gate": "EXECUTION_PLAN_BLOCKED", "reason_code": "trading_halt", "order_capacity_krw": None}
+
+    required = ["avg_trade_value_20d_krw", "intraday_trade_value_krw", "orderbook_top3_depth_krw", "spread_bps"]
+    if any(order.get(f) is None for f in required):
+        return {
+            **order,
+            "gate": "EXECUTION_PLAN_BLOCKED",
+            "reason_code": "broker_packet_missing",
+            "order_capacity_krw": None,
+        }
+
+    planned = float(order.get("planned_order_amount_krw") or 0.0)
+    capacity = min(
+        planned,
+        float(order["avg_trade_value_20d_krw"]) * 0.003,
+        float(order["intraday_trade_value_krw"]) * 0.01,
+        float(order["orderbook_top3_depth_krw"]) * 0.30,
+    )
+    gate = "ORDER_SIZE_CAPPED" if capacity < planned else "PASS"
+    return {**order, "gate": gate, "order_capacity_krw": capacity}
+
+
+def should_cancel_remaining_slices(current_spread_bps: float, baseline_spread_bps: float) -> bool:
+    return current_spread_bps > baseline_spread_bps * SPREAD_WIDEN_MULTIPLIER
+
+
+def main() -> int:
+    ap = argparse.ArgumentParser()
+    ap.add_argument("--orders", default=str(DEFAULT_ORDERS))
+    ap.add_argument("--out", default=str(DEFAULT_OUT))
+    args = ap.parse_args()
+
+    doc = _load(Path(args.orders))
+    orders = doc.get("orders") if isinstance(doc.get("orders"), list) else []
+
+    rows = [evaluate_order_capacity(order) for order in orders if isinstance(order, dict)]
+
+    result = {
+        "formula_id": "EXECUTION_CAPACITY_LADDER_V1",
+        "gate": "PASS" if rows else "DATA_MISSING",
+        "rows": rows,
+        "split_order_template": {"slice_1_pct": 30, "slice_2_pct": 30, "slice_3_pct": 40},
+        "source_paths": [str(Path(args.orders))],
+    }
+    out = Path(args.out)
+    out.write_text(json.dumps(result, ensure_ascii=False, indent=2), encoding="utf-8")
+    print(json.dumps(result, ensure_ascii=False, indent=2))
+    return 0
+
+
+if __name__ == "__main__":
+    raise SystemExit(main())

tools/build_execution_plan_compiler_v1.py

@@ -0,0 +1,108 @@
+#!/usr/bin/env python3
+"""EXECUTION_PLAN_COMPILER_V1 — spec/formulas/domains/execution.yaml.
+
+Compiles order_capacity_krw into 30/30/40 LIMIT_SPLIT slices and revalidates
+cash_floor/capacity/spread before each slice, cancelling the remainder when any
+cancel_remaining_if condition fires. governance/todo/v8_9_p2_adoption_plan.yaml P2-D.
+"""
+from __future__ import annotations
+
+import argparse
+import json
+from pathlib import Path
+
+ROOT = Path(__file__).resolve().parents[1]
+DEFAULT_CAPACITY = ROOT / "Temp" / "execution_capacity_ladder_v1.json"
+DEFAULT_OUT = ROOT / "Temp" / "execution_plan_compiler_v1.json"
+
+SLICE_PCTS = [0.30, 0.30, 0.40]
+
+
+def _load(path: Path) -> dict:
+    if not path.exists():
+        return {}
+    try:
+        data = json.loads(path.read_text(encoding="utf-8"))
+        return data if isinstance(data, dict) else {}
+    except Exception:
+        return {}
+
+
+def should_cancel_remaining(revalidation_snapshot: dict, baseline_snapshot: dict, required_cash_pct: float) -> str | None:
+    if revalidation_snapshot.get("spread_bps") is not None and baseline_snapshot.get("spread_bps") is not None:
+        if revalidation_snapshot["spread_bps"] > baseline_snapshot["spread_bps"] * 1.5:
+            return "spread_widens_beyond_limit"
+
+    if revalidation_snapshot.get("cash_floor_pct") is not None:
+        if revalidation_snapshot["cash_floor_pct"] < required_cash_pct:
+            return "cash_floor_after_fill_breached"
+
+    if revalidation_snapshot.get("order_capacity_krw") is not None and baseline_snapshot.get("order_capacity_krw") is not None:
+        if revalidation_snapshot["order_capacity_krw"] < baseline_snapshot["order_capacity_krw"] * 0.5:
+            return "orderbook_capacity_collapses"
+
+    return None
+
+
+def compile_slices(
+    order_capacity_krw: float,
+    baseline_snapshot: dict,
+    revalidation_snapshots: list[dict],
+    required_cash_pct: float = 0.0,
+) -> list[dict]:
+    slices = []
+    cancelled = False
+    for idx, pct in enumerate(SLICE_PCTS, start=1):
+        if cancelled:
+            slices.append({"slice_index": idx, "slice_amount_krw": None, "status": "CANCELLED"})
+            continue
+
+        snapshot = revalidation_snapshots[idx - 1] if idx - 1 < len(revalidation_snapshots) else baseline_snapshot
+        cancel_reason = should_cancel_remaining(snapshot, baseline_snapshot, required_cash_pct)
+        if cancel_reason:
+            slices.append({"slice_index": idx, "slice_amount_krw": None, "status": "CANCELLED", "reason_code": cancel_reason})
+            cancelled = True
+            continue
+
+        slices.append({"slice_index": idx, "slice_amount_krw": order_capacity_krw * pct, "status": "COMPILED"})
+
+    return slices
+
+
+def main() -> int:
+    ap = argparse.ArgumentParser()
+    ap.add_argument("--capacity", default=str(DEFAULT_CAPACITY))
+    ap.add_argument("--out", default=str(DEFAULT_OUT))
+    args = ap.parse_args()
+
+    doc = _load(Path(args.capacity))
+    rows = doc.get("rows") if isinstance(doc.get("rows"), list) else []
+
+    results = []
+    for row in rows:
+        order_capacity_krw = row.get("order_capacity_krw")
+        if order_capacity_krw is None:
+            results.append({"gate": "EXECUTION_PLAN_BLOCKED", "compiled_slices": []})
+            continue
+        baseline_snapshot = {
+            "spread_bps": row.get("spread_bps"),
+            "order_capacity_krw": order_capacity_krw,
+            "cash_floor_pct": row.get("cash_floor_pct"),
+        }
+        compiled = compile_slices(order_capacity_krw, baseline_snapshot, revalidation_snapshots=[baseline_snapshot] * 3)
+        results.append({"gate": "PASS", "compiled_slices": compiled})
+
+    result = {
+        "formula_id": "EXECUTION_PLAN_COMPILER_V1",
+        "gate": "PASS" if results else "DATA_MISSING",
+        "results": results,
+        "source_paths": [str(Path(args.capacity))],
+    }
+    out = Path(args.out)
+    out.write_text(json.dumps(result, ensure_ascii=False, indent=2), encoding="utf-8")
+    print(json.dumps(result, ensure_ascii=False, indent=2))
+    return 0
+
+
+if __name__ == "__main__":
+    raise SystemExit(main())

tools/build_forecast_simulation_engine_v1.py

@@ -0,0 +1,155 @@
+#!/usr/bin/env python3
+"""FORECAST_SIMULATION_ENGINE_V1 — spec/formulas/domains/simulation.yaml.
+
+CE70/CE90/CVaR95 from a net-profit distribution, gated by minimum_sample_rules
+per execution_mode (governance/todo/v8_9_p0_adoption_plan.yaml P0-3.2).
+
+Hard rule (AGENTS.md): a missing or undersized sample is never treated as zero
+or filled with an estimate. spec/29_backtest_harness_contract.yaml currently
+reports T+20 realized sample count = 0 (insufficient_data), so this tool is
+expected to emit WATCH_ONLY with null outputs until real samples accumulate.
+"""
+from __future__ import annotations
+
+import argparse
+import json
+from pathlib import Path
+
+ROOT = Path(__file__).resolve().parents[1]
+DEFAULT_BACKTEST_CONTRACT = ROOT / "spec" / "29_backtest_harness_contract.yaml"
+DEFAULT_DISTRIBUTION = ROOT / "Temp" / "net_profit_distribution_v1.json"
+DEFAULT_DECISION_PACKET = ROOT / "Temp" / "final_decision_packet_active.json"
+DEFAULT_OUT = ROOT / "Temp" / "forecast_simulation_engine_v1.json"
+
+MINIMUM_SAMPLE_RULES = {
+    "AUDIT_ONLY": {"sample_count_total_min": 0, "sample_count_same_regime_min": 0},
+    "SHADOW": {"sample_count_total_min": 30, "sample_count_same_regime_min": 10},
+    "PILOT": {"sample_count_total_min": 80, "sample_count_same_regime_min": 20},
+    "LIVE_LIMITED": {"sample_count_total_min": 150, "sample_count_same_regime_min": 30},
+    "LIVE_FULL": {"sample_count_total_min": 300, "sample_count_same_regime_min": 50},
+}
+
+
+def _load_json(path: Path) -> dict:
+    if not path.exists():
+        return {}
+    try:
+        data = json.loads(path.read_text(encoding="utf-8"))
+        return data if isinstance(data, dict) else {}
+    except Exception:
+        return {}
+
+
+def _load_yaml(path: Path) -> dict:
+    if not path.exists():
+        return {}
+    try:
+        import yaml  # type: ignore
+
+        data = yaml.safe_load(path.read_text(encoding="utf-8"))
+        return data if isinstance(data, dict) else {}
+    except Exception:
+        return {}
+
+
+def _sample_counts_from_backtest_contract(contract: dict) -> tuple[int, int]:
+    metrics = contract.get("current_metrics") or {}
+    direction_accuracy = metrics.get("direction_accuracy") or {}
+    t20 = direction_accuracy.get("t20_op_rate") or {}
+    n_sample = t20.get("n_sample")
+    sample_count_total = n_sample if isinstance(n_sample, int) else 0
+    return sample_count_total, sample_count_total
+
+
+def _quantile(sorted_values: list[float], q: float) -> float:
+    if not sorted_values:
+        raise ValueError("empty distribution")
+    if len(sorted_values) == 1:
+        return sorted_values[0]
+    pos = q * (len(sorted_values) - 1)
+    lower = int(pos)
+    upper = min(lower + 1, len(sorted_values) - 1)
+    frac = pos - lower
+    return sorted_values[lower] + (sorted_values[upper] - sorted_values[lower]) * frac
+
+
+def _cvar95(sorted_values: list[float]) -> float:
+    threshold_idx = max(1, int(len(sorted_values) * 0.05))
+    tail = sorted_values[:threshold_idx]
+    return sum(tail) / len(tail)
+
+
+def main() -> int:
+    ap = argparse.ArgumentParser()
+    ap.add_argument("--backtest-contract", default=str(DEFAULT_BACKTEST_CONTRACT))
+    ap.add_argument("--distribution", default=str(DEFAULT_DISTRIBUTION))
+    ap.add_argument("--decision-packet", default=str(DEFAULT_DECISION_PACKET))
+    ap.add_argument("--out", default=str(DEFAULT_OUT))
+    args = ap.parse_args()
+
+    backtest_contract = _load_yaml(Path(args.backtest_contract))
+    distribution_doc = _load_json(Path(args.distribution))
+    decision_packet = _load_json(Path(args.decision_packet))
+
+    execution_mode = (
+        decision_packet.get("execution_mode")
+        or decision_packet.get("global_execution_gate")
+        or "AUDIT_ONLY"
+    )
+    rule = MINIMUM_SAMPLE_RULES.get(execution_mode, MINIMUM_SAMPLE_RULES["AUDIT_ONLY"])
+
+    distribution = distribution_doc.get("net_profit_distribution_after_tax_fee_slippage")
+    if isinstance(distribution, list) and distribution:
+        sample_count_total = len(distribution)
+        sample_count_same_regime = int(
+            distribution_doc.get("sample_count_same_regime") or sample_count_total
+        )
+    else:
+        sample_count_total, sample_count_same_regime = _sample_counts_from_backtest_contract(
+            backtest_contract
+        )
+
+    gate_ok = (
+        sample_count_total >= rule["sample_count_total_min"]
+        and sample_count_same_regime >= rule["sample_count_same_regime_min"]
+    )
+
+    if gate_ok and isinstance(distribution, list) and distribution:
+        sorted_values = sorted(float(v) for v in distribution)
+        result = {
+            "formula_id": "FORECAST_SIMULATION_ENGINE_V1",
+            "execution_mode": execution_mode,
+            "gate": "PASS",
+            "sample_count_total": sample_count_total,
+            "sample_count_same_regime": sample_count_same_regime,
+            "ce70_net_profit_krw": _quantile(sorted_values, 0.30),
+            "ce90_net_profit_krw": _quantile(sorted_values, 0.10),
+            "cvar95_loss_krw": _cvar95(sorted_values),
+        }
+    else:
+        result = {
+            "formula_id": "FORECAST_SIMULATION_ENGINE_V1",
+            "execution_mode": execution_mode,
+            "gate": "WATCH_ONLY",
+            "reason_code": "insufficient_data",
+            "sample_count_total": sample_count_total,
+            "sample_count_same_regime": sample_count_same_regime,
+            "minimum_required": rule,
+            "ce70_net_profit_krw": None,
+            "ce90_net_profit_krw": None,
+            "cvar95_loss_krw": None,
+        }
+
+    result["source_paths"] = [
+        str(Path(args.backtest_contract)),
+        str(Path(args.distribution)),
+        str(Path(args.decision_packet)),
+    ]
+    out = Path(args.out)
+    out.write_text(json.dumps(result, ensure_ascii=False, indent=2), encoding="utf-8")
+    print(json.dumps(result, ensure_ascii=False, indent=2))
+    return 0
+
+
+if __name__ == "__main__":
+    raise SystemExit(main())

tools/build_immutable_decision_ledger_v1.py

@@ -0,0 +1,109 @@
+#!/usr/bin/env python3
+"""IMMUTABLE_DECISION_LEDGER_V1 — spec/formulas/domains/governance.yaml.
+
+Append-only decision log. Refuses to append a duplicate decision_id and never
+mutates an existing record. governance/todo/v8_9_p2_adoption_plan.yaml P2-C.
+"""
+from __future__ import annotations
+
+import argparse
+import json
+from datetime import datetime, timezone
+from pathlib import Path
+
+ROOT = Path(__file__).resolve().parents[1]
+DEFAULT_LEDGER = ROOT / "Temp" / "immutable_decision_ledger_v1.json"
+DEFAULT_DECISION = ROOT / "Temp" / "portfolio_transition_optimizer_v1.json"
+
+REQUIRED_FIELDS = [
+    "decision_id",
+    "engine_version",
+    "input_hash_bundle",
+    "execution_mode",
+    "candidate_ids",
+]
+
+
+def _load_ledger(path: Path) -> dict:
+    if not path.exists():
+        return {"formula_id": "IMMUTABLE_DECISION_LEDGER_V1", "records": []}
+    try:
+        data = json.loads(path.read_text(encoding="utf-8"))
+        if isinstance(data, dict) and isinstance(data.get("records"), list):
+            return data
+        return {"formula_id": "IMMUTABLE_DECISION_LEDGER_V1", "records": []}
+    except Exception:
+        return {"formula_id": "IMMUTABLE_DECISION_LEDGER_V1", "records": []}
+
+
+def append_decision(ledger: dict, decision: dict) -> tuple[dict, str]:
+    missing = [f for f in REQUIRED_FIELDS if decision.get(f) is None]
+    if missing:
+        return ledger, "REJECTED_MISSING_FIELDS"
+
+    decision_id = decision["decision_id"]
+    existing_ids = {r["decision_id"] for r in ledger["records"]}
+    if decision_id in existing_ids:
+        return ledger, "DUPLICATE_DECISION_ID"
+
+    record = {
+        "decision_id": decision_id,
+        "timestamp": decision.get("timestamp") or datetime.now(timezone.utc).isoformat(),
+        "engine_version": decision["engine_version"],
+        "input_hash_bundle": decision["input_hash_bundle"],
+        "execution_mode": decision["execution_mode"],
+        "candidate_ids": decision["candidate_ids"],
+        "selected_transition_id": decision.get("selected_transition_id"),
+        "hard_blocks": decision.get("hard_blocks", []),
+        "transition_utility_krw": decision.get("transition_utility_krw"),
+        "operator_override": decision.get("operator_override", False),
+        "order_ids": decision.get("order_ids", []),
+        "fill_prices": decision.get("fill_prices", []),
+        "slippage": decision.get("slippage"),
+        "T1_return": None,
+        "T5_return": None,
+        "T20_return": None,
+        "MAE": None,
+        "MFE": None,
+    }
+    new_ledger = {**ledger, "records": ledger["records"] + [record]}
+    return new_ledger, "APPENDED"
+
+
+def main() -> int:
+    ap = argparse.ArgumentParser()
+    ap.add_argument("--ledger", default=str(DEFAULT_LEDGER))
+    ap.add_argument("--decision", default=str(DEFAULT_DECISION))
+    args = ap.parse_args()
+
+    ledger = _load_ledger(Path(args.ledger))
+    decision_doc = {}
+    decision_path = Path(args.decision)
+    if decision_path.exists():
+        try:
+            decision_doc = json.loads(decision_path.read_text(encoding="utf-8"))
+        except Exception:
+            decision_doc = {}
+
+    decision = {
+        "decision_id": decision_doc.get("packet_id") or decision_doc.get("formula_id"),
+        "engine_version": "PORTFOLIO_TRANSITION_UTILITY_V1",
+        "input_hash_bundle": decision_doc.get("input_hash") or "unknown",
+        "execution_mode": decision_doc.get("execution_mode") or decision_doc.get("final_action"),
+        "candidate_ids": [c.get("candidate_id") for c in decision_doc.get("candidate_actions", [])],
+        "selected_transition_id": (decision_doc.get("selected_transition") or {}).get("candidate_id"),
+        "hard_blocks": decision_doc.get("reason_codes", []),
+        "transition_utility_krw": (decision_doc.get("selected_transition") or {}).get("transition_utility_krw"),
+    }
+
+    new_ledger, status = append_decision(ledger, decision)
+    new_ledger["status"] = status
+    out = Path(args.ledger)
+    if status == "APPENDED":
+        out.write_text(json.dumps(new_ledger, ensure_ascii=False, indent=2), encoding="utf-8")
+    print(json.dumps({"formula_id": "IMMUTABLE_DECISION_LEDGER_V1", "ledger_append_status": status}, ensure_ascii=False, indent=2))
+    return 0
+
+
+if __name__ == "__main__":
+    raise SystemExit(main())

tools/build_model_governance_kill_switch_v1.py

@@ -0,0 +1,118 @@
+#!/usr/bin/env python3
+"""MODEL_GOVERNANCE_KILL_SWITCH_V1 — spec/formulas/domains/governance.yaml.
+
+Evaluates the 5 v8.9 kill-switch conditions and demotes execution_mode by exactly
+one rung on the promotion ladder when any condition fires. No automatic promotion —
+promotion requires an operator_override record (v8.9 V89_039).
+governance/todo/v8_9_p1_adoption_plan.yaml P1-C.2.
+"""
+from __future__ import annotations
+
+import argparse
+import json
+from pathlib import Path
+
+ROOT = Path(__file__).resolve().parents[1]
+DEFAULT_METRICS = ROOT / "Temp" / "model_governance_metrics_v1.json"
+DEFAULT_DECISION_PACKET = ROOT / "Temp" / "final_decision_packet_active.json"
+DEFAULT_OUT = ROOT / "Temp" / "model_governance_kill_switch_v1.json"
+
+PROMOTION_LADDER = ["AUDIT_ONLY", "SHADOW", "PILOT", "LIVE_LIMITED", "LIVE_FULL"]
+
+
+def _load(path: Path) -> dict:
+    if not path.exists():
+        return {}
+    try:
+        data = json.loads(path.read_text(encoding="utf-8"))
+        return data if isinstance(data, dict) else {}
+    except Exception:
+        return {}
+
+
+def evaluate_kill_switches(metrics: dict) -> list[str]:
+    triggered = []
+
+    quarantine = metrics.get("data_quarantine_rate_pct")
+    if quarantine is not None and quarantine > 5.0:
+        triggered.append("data_quarantine_rate_above_5pct")
+
+    shortfall = metrics.get("implementation_shortfall_ratio")
+    if shortfall is not None and shortfall > 2.0:
+        triggered.append("implementation_shortfall_above_2x_expected")
+
+    t5_hit_rate = metrics.get("t5_hit_rate_pct")
+    t5_sample_count = metrics.get("t5_sample_count") or 0
+    if t5_hit_rate is not None and t5_sample_count >= 30 and t5_hit_rate < 50.0:
+        triggered.append("t5_hit_rate_below_50pct_for_30_trades")
+
+    calibration_error = metrics.get("calibration_error")
+    calibration_limit = metrics.get("calibration_error_limit")
+    if calibration_error is not None and calibration_limit is not None and calibration_error > calibration_limit:
+        triggered.append("calibration_error_above_limit")
+
+    mdd = metrics.get("account_mdd_pct")
+    mdd_budget = metrics.get("account_mdd_budget_pct")
+    if mdd is not None and mdd_budget is not None and mdd > mdd_budget:
+        triggered.append("unexpected_drawdown_breach")
+
+    return triggered
+
+
+def demote_one_rung(current_mode: str) -> str:
+    if current_mode not in PROMOTION_LADDER:
+        return "AUDIT_ONLY"
+    idx = PROMOTION_LADDER.index(current_mode)
+    return PROMOTION_LADDER[max(idx - 1, 0)]
+
+
+def main() -> int:
+    ap = argparse.ArgumentParser()
+    ap.add_argument("--metrics", default=str(DEFAULT_METRICS))
+    ap.add_argument("--decision-packet", default=str(DEFAULT_DECISION_PACKET))
+    ap.add_argument("--out", default=str(DEFAULT_OUT))
+    args = ap.parse_args()
+
+    metrics = _load(Path(args.metrics))
+    decision_packet = _load(Path(args.decision_packet))
+
+    current_mode = decision_packet.get("execution_mode") or decision_packet.get("global_execution_gate") or "AUDIT_ONLY"
+
+    if not metrics:
+        result = {
+            "formula_id": "MODEL_GOVERNANCE_KILL_SWITCH_V1",
+            "gate": "DATA_MISSING",
+            "execution_mode": current_mode,
+            "execution_mode_changed": False,
+            "kill_switch_triggered": False,
+            "kill_switch_reason_codes": [],
+            "source_paths": [str(Path(args.metrics)), str(Path(args.decision_packet))],
+        }
+        out = Path(args.out)
+        out.write_text(json.dumps(result, ensure_ascii=False, indent=2), encoding="utf-8")
+        print(json.dumps(result, ensure_ascii=False, indent=2))
+        return 0
+
+    reason_codes = evaluate_kill_switches(metrics)
+    if reason_codes:
+        new_mode = demote_one_rung(current_mode)
+    else:
+        new_mode = current_mode
+
+    result = {
+        "formula_id": "MODEL_GOVERNANCE_KILL_SWITCH_V1",
+        "gate": "KILL_SWITCH_TRIGGERED" if reason_codes else "PASS",
+        "execution_mode": new_mode,
+        "execution_mode_changed": new_mode != current_mode,
+        "kill_switch_triggered": bool(reason_codes),
+        "kill_switch_reason_codes": reason_codes,
+        "source_paths": [str(Path(args.metrics)), str(Path(args.decision_packet))],
+    }
+    out = Path(args.out)
+    out.write_text(json.dumps(result, ensure_ascii=False, indent=2), encoding="utf-8")
+    print(json.dumps(result, ensure_ascii=False, indent=2))
+    return 0
+
+
+if __name__ == "__main__":
+    raise SystemExit(main())

tools/build_portfolio_transition_optimizer_v1.py

@@ -0,0 +1,209 @@
+#!/usr/bin/env python3
+"""PORTFOLIO_TRANSITION_UTILITY_V1 — spec/formulas/domains/portfolio.yaml.
+
+Compiles candidate sell actions (from sell_waterfall_engine_v3/v4) and cash-repair
+benefit (from smart_cash_recovery) plus a CE70 distribution input
+(forecast_simulation_engine_v1, optional — may not exist yet while T+20 sample < 30)
+into a single portfolio-level transition_utility_krw and a deterministic
+selected_transition or NO_TRADE.
+
+Hard rule (AGENTS.md): missing required numeric input is never treated as zero.
+If ce70_net_profit_krw is unavailable for every candidate, the optimizer still runs
+on the cash/concentration-only benefit terms but cannot select a BUY-type transition.
+"""
+from __future__ import annotations
+
+import argparse
+import json
+from pathlib import Path
+
+ROOT = Path(__file__).resolve().parents[1]
+DEFAULT_DECISION_PACKET = ROOT / "Temp" / "final_decision_packet_active.json"
+DEFAULT_SELL_WATERFALL = ROOT / "Temp" / "sell_waterfall_engine_v3.json"
+DEFAULT_CASH_RECOVERY = ROOT / "Temp" / "smart_cash_recovery_v9.json"
+DEFAULT_SIMULATION = ROOT / "Temp" / "forecast_simulation_engine_v1.json"
+DEFAULT_OUT = ROOT / "Temp" / "portfolio_transition_optimizer_v1.json"
+
+HARD_VETO_ORDER = [
+    "DATA_INVALID",
+    "EXECUTION_MODE_BLOCK",
+    "CASH_FLOOR_BLOCK",
+    "HARD_CONCENTRATION_BLOCK",
+    "NEGATIVE_TRANSITION_UTILITY",
+]
+
+LIVE_ORDER_MODES = {"LIVE_LIMITED", "LIVE_FULL"}
+
+
+def _load(path: Path) -> dict:
+    if not path.exists():
+        return {}
+    try:
+        data = json.loads(path.read_text(encoding="utf-8"))
+        return data if isinstance(data, dict) else {}
+    except Exception:
+        return {}
+
+
+def _candidate_actions_from_sell_waterfall(sell_waterfall: dict) -> list[dict]:
+    rows = sell_waterfall.get("rows") if isinstance(sell_waterfall.get("rows"), list) else []
+    candidates = []
+    for idx, row in enumerate(rows):
+        if not isinstance(row, dict):
+            continue
+        candidates.append(
+            {
+                "candidate_id": row.get("candidate_id") or f"SELL_{idx}",
+                "asset_id": row.get("종목명") or row.get("asset_id") or "UNKNOWN",
+                "action_type": row.get("매도유형") or row.get("action_type") or "SELL_CASH_REPAIR",
+                "planned_amount_krw": row.get("예상순현금") or row.get("planned_amount_krw"),
+                "source_signal_ids": ["SELL_WATERFALL_ENGINE_V3"],
+                "numeric_provenance_status": "PASS" if row.get("예상순현금") is not None else "DATA_MISSING",
+            }
+        )
+    return candidates
+
+
+def _hard_constraint_pass(candidate: dict, decision_packet: dict) -> tuple[bool, str | None]:
+    if candidate.get("numeric_provenance_status") != "PASS":
+        return False, "DATA_INVALID"
+    execution_mode = decision_packet.get("execution_mode") or decision_packet.get("global_execution_gate")
+    if execution_mode in (None, "DATA_MISSING"):
+        return False, "EXECUTION_MODE_BLOCK"
+    return True, None
+
+
+def _transition_utility_krw(
+    candidate: dict,
+    ce70_net_profit_krw: float | None,
+    tax_fee_slippage_krw: float,
+    cash_repair_benefit_krw: float,
+    concentration_reduction_benefit_krw: float,
+    turnover_penalty_krw: float,
+) -> float | None:
+    is_sell = str(candidate.get("action_type", "")).startswith("SELL")
+    if is_sell:
+        planned = candidate.get("planned_amount_krw") or 0.0
+        return (
+            float(planned)
+            + cash_repair_benefit_krw
+            + concentration_reduction_benefit_krw
+            - tax_fee_slippage_krw
+            - turnover_penalty_krw
+        )
+    if ce70_net_profit_krw is None:
+        return None
+    return (
+        ce70_net_profit_krw
+        - tax_fee_slippage_krw
+        + cash_repair_benefit_krw
+        + concentration_reduction_benefit_krw
+        - turnover_penalty_krw
+    )
+
+
+def main() -> int:
+    ap = argparse.ArgumentParser()
+    ap.add_argument("--decision-packet", default=str(DEFAULT_DECISION_PACKET))
+    ap.add_argument("--sell-waterfall", default=str(DEFAULT_SELL_WATERFALL))
+    ap.add_argument("--cash-recovery", default=str(DEFAULT_CASH_RECOVERY))
+    ap.add_argument("--simulation", default=str(DEFAULT_SIMULATION))
+    ap.add_argument("--out", default=str(DEFAULT_OUT))
+    args = ap.parse_args()
+
+    decision_packet = _load(Path(args.decision_packet))
+    sell_waterfall = _load(Path(args.sell_waterfall))
+    cash_recovery = _load(Path(args.cash_recovery))
+    simulation = _load(Path(args.simulation))
+
+    source_paths = [
+        str(Path(args.decision_packet)),
+        str(Path(args.sell_waterfall)),
+        str(Path(args.cash_recovery)),
+        str(Path(args.simulation)),
+    ]
+
+    if not decision_packet:
+        result = {
+            "formula_id": "PORTFOLIO_TRANSITION_UTILITY_V1",
+            "gate": "NO_TRADE_AND_QUARANTINE",
+            "final_action": "NO_TRADE",
+            "reason_codes": ["missing_optimizer_inputs"],
+            "selected_transition": None,
+            "candidate_actions": [],
+            "source_paths": source_paths,
+        }
+        out = Path(args.out)
+        out.write_text(json.dumps(result, ensure_ascii=False, indent=2), encoding="utf-8")
+        print(json.dumps(result, ensure_ascii=False, indent=2))
+        return 0
+
+    cash_repair_benefit_krw = float(cash_recovery.get("value_damage_pct_avg") or cash_recovery.get("cash_repair_benefit_krw") or 0.0)
+    tax_fee_slippage_krw = float(sell_waterfall.get("tax_fee_slippage_krw") or 0.0)
+    concentration_reduction_benefit_krw = 0.0
+    turnover_penalty_krw = 0.0
+    ce70_net_profit_krw = simulation.get("ce70_net_profit_krw")
+    if isinstance(ce70_net_profit_krw, str):
+        ce70_net_profit_krw = None
+
+    candidates = _candidate_actions_from_sell_waterfall(sell_waterfall)
+    evaluated = []
+    best = None
+    for candidate in candidates:
+        ok, veto_reason = _hard_constraint_pass(candidate, decision_packet)
+        utility = (
+            _transition_utility_krw(
+                candidate,
+                ce70_net_profit_krw,
+                tax_fee_slippage_krw,
+                cash_repair_benefit_krw,
+                concentration_reduction_benefit_krw,
+                turnover_penalty_krw,
+            )
+            if ok
+            else None
+        )
+        if ok and utility is not None and utility <= 0:
+            ok = False
+            veto_reason = "NEGATIVE_TRANSITION_UTILITY"
+        row = {
+            **candidate,
+            "hard_constraint_pass": ok,
+            "veto_reason": veto_reason,
+            "transition_utility_krw": utility,
+        }
+        evaluated.append(row)
+        if ok and (best is None or (utility or 0) > (best["transition_utility_krw"] or 0)):
+            best = row
+
+    if best is None:
+        final_action = "NO_TRADE"
+        reason_codes = ["NO_TRADE_BAND"] if candidates else ["missing_optimizer_inputs"]
+        selected_transition = None
+    else:
+        execution_mode = decision_packet.get("execution_mode") or decision_packet.get("global_execution_gate")
+        if execution_mode in LIVE_ORDER_MODES:
+            final_action = "LIVE_ORDER_REVIEW"
+        else:
+            final_action = "SHADOW_LEDGER_ONLY"
+        reason_codes = ["TRANSITION_UTILITY_POSITIVE"]
+        selected_transition = best
+
+    result = {
+        "formula_id": "PORTFOLIO_TRANSITION_UTILITY_V1",
+        "default_action": "NO_TRADE",
+        "final_action": final_action,
+        "hard_veto_order": HARD_VETO_ORDER,
+        "reason_codes": reason_codes,
+        "candidate_actions": evaluated,
+        "selected_transition": selected_transition,
+        "source_paths": source_paths,
+    }
+    out = Path(args.out)
+    out.write_text(json.dumps(result, ensure_ascii=False, indent=2), encoding="utf-8")
+    print(json.dumps(result, ensure_ascii=False, indent=2))
+    return 0
+
+
+if __name__ == "__main__":
+    raise SystemExit(main())

tools/build_rebalance_cadence_gate_v1.py

@@ -0,0 +1,90 @@
+#!/usr/bin/env python3
+"""REBALANCE_CADENCE_GATE_V1 — spec/formulas/domains/portfolio.yaml.
+
+Mandatory weekly (Sat/Sun) and monthly (1/11/21) cadence checks always emit a
+review, but actual rebalancing execution is allowed only when transition utility
+after tax cost is positive or a hard risk block is active.
+governance/todo/v8_9_p3_adoption_plan.yaml P3-D.
+"""
+from __future__ import annotations
+
+import argparse
+import json
+from datetime import date
+from pathlib import Path
+
+ROOT = Path(__file__).resolve().parents[1]
+DEFAULT_OUT = ROOT / "Temp" / "rebalance_cadence_gate_v1.json"
+
+WEEKLY_WEEKDAYS = {5, 6}  # Saturday=5, Sunday=6 (date.weekday())
+MONTHLY_MID_CHECK_DAYS = {1, 11, 21}
+
+
+def cadence_check_required(check_date: date, event_driven_trigger: bool = False) -> tuple[bool, str | None]:
+    if check_date.weekday() in WEEKLY_WEEKDAYS:
+        return True, "weekly_rebalance_required"
+    if check_date.day in MONTHLY_MID_CHECK_DAYS:
+        return True, "mid_check_required"
+    if event_driven_trigger:
+        return True, "event_driven_trigger"
+    return False, None
+
+
+def evaluate_rebalance_gate(
+    check_date: date,
+    transition_utility_after_tax_cost_krw: float | None,
+    hard_risk_block_active: bool | None,
+    event_driven_trigger: bool = False,
+) -> dict:
+    required, reason = cadence_check_required(check_date, event_driven_trigger)
+    if not required:
+        return {
+            "cadence_check_required": False,
+            "review_emitted": False,
+            "rebalance_execution_allowed": False,
+            "cadence_trigger_reason": None,
+        }
+
+    if transition_utility_after_tax_cost_krw is None and hard_risk_block_active is None:
+        return {
+            "cadence_check_required": True,
+            "review_emitted": True,
+            "rebalance_execution_allowed": False,
+            "cadence_trigger_reason": reason,
+            "gate": "DATA_MISSING",
+        }
+
+    allowed = bool(hard_risk_block_active) or (
+        transition_utility_after_tax_cost_krw is not None and transition_utility_after_tax_cost_krw > 0
+    )
+    return {
+        "cadence_check_required": True,
+        "review_emitted": True,
+        "rebalance_execution_allowed": allowed,
+        "cadence_trigger_reason": reason,
+    }
+
+
+def main() -> int:
+    ap = argparse.ArgumentParser()
+    ap.add_argument("--date", default=None, help="YYYY-MM-DD, default today")
+    ap.add_argument("--transition-utility", type=float, default=None)
+    ap.add_argument("--hard-risk-block", action="store_true")
+    ap.add_argument("--event-driven-trigger", action="store_true")
+    ap.add_argument("--out", default=str(DEFAULT_OUT))
+    args = ap.parse_args()
+
+    check_date = date.fromisoformat(args.date) if args.date else date.today()
+    result = {
+        "formula_id": "REBALANCE_CADENCE_GATE_V1",
+        **evaluate_rebalance_gate(check_date, args.transition_utility, args.hard_risk_block, args.event_driven_trigger),
+        "check_date": check_date.isoformat(),
+    }
+    out = Path(args.out)
+    out.write_text(json.dumps(result, ensure_ascii=False, indent=2), encoding="utf-8")
+    print(json.dumps(result, ensure_ascii=False, indent=2))
+    return 0
+
+
+if __name__ == "__main__":
+    raise SystemExit(main())

tools/build_scenario_shock_matrix_v1.py

@@ -0,0 +1,112 @@
+#!/usr/bin/env python3
+"""SCENARIO_SHOCK_MATRIX_V1 — spec/formulas/domains/simulation.yaml.
+
+Applies 5 deterministic stress multipliers to a base net-profit distribution to
+produce per-scenario CE70/CVaR95. governance/todo/v8_9_p2_adoption_plan.yaml P2-A.
+
+Hard rule (AGENTS.md): no base distribution -> all scenarios DATA_MISSING. Never
+fabricate a shocked distribution from nothing.
+"""
+from __future__ import annotations
+
+import argparse
+import json
+from pathlib import Path
+
+ROOT = Path(__file__).resolve().parents[1]
+DEFAULT_SIMULATION = ROOT / "Temp" / "forecast_simulation_engine_v1.json"
+DEFAULT_DISTRIBUTION = ROOT / "Temp" / "net_profit_distribution_v1.json"
+DEFAULT_OUT = ROOT / "Temp" / "scenario_shock_matrix_v1.json"
+
+SCENARIO_DEFINITIONS = {
+    "base_case": {"shock_multiplier": 1.0},
+    "adverse_case": {"shock_multiplier": 1.5},
+    "liquidity_drought_case": {"shock_multiplier": 1.3, "capacity_derate_pct": 40},
+    "crisis_case": {"shock_multiplier": 2.0, "correlation_to_one": True},
+    "fx_shock_case": {"shock_multiplier": 1.2, "applies_only_to": "foreign_assets"},
+    "tax_cost_case": {"shock_multiplier": 1.0, "additional_cost_pct": 5},
+}
+
+
+def _load(path: Path) -> dict:
+    if not path.exists():
+        return {}
+    try:
+        data = json.loads(path.read_text(encoding="utf-8"))
+        return data if isinstance(data, dict) else {}
+    except Exception:
+        return {}
+
+
+def _quantile(sorted_values: list[float], q: float) -> float:
+    if len(sorted_values) == 1:
+        return sorted_values[0]
+    pos = q * (len(sorted_values) - 1)
+    lower = int(pos)
+    upper = min(lower + 1, len(sorted_values) - 1)
+    frac = pos - lower
+    return sorted_values[lower] + (sorted_values[upper] - sorted_values[lower]) * frac
+
+
+def _cvar95(sorted_values: list[float]) -> float:
+    threshold_idx = max(1, int(len(sorted_values) * 0.05))
+    tail = sorted_values[:threshold_idx]
+    return sum(tail) / len(tail)
+
+
+def apply_shock(distribution: list[float], scenario_id: str) -> list[float]:
+    scenario = SCENARIO_DEFINITIONS[scenario_id]
+    multiplier = scenario["shock_multiplier"]
+    additional_cost_pct = scenario.get("additional_cost_pct", 0)
+    shocked = []
+    for v in distribution:
+        value = v * multiplier if v < 0 else v / multiplier
+        if additional_cost_pct:
+            value -= abs(value) * (additional_cost_pct / 100.0)
+        shocked.append(value)
+    return shocked
+
+
+def evaluate_scenario(distribution: list[float] | None, scenario_id: str) -> dict:
+    if not distribution:
+        return {
+            "scenario_id": scenario_id,
+            "scenario_ce70_krw": None,
+            "scenario_cvar95_krw": None,
+            "gate": "DATA_MISSING",
+        }
+    shocked = sorted(apply_shock(distribution, scenario_id))
+    return {
+        "scenario_id": scenario_id,
+        "scenario_ce70_krw": _quantile(shocked, 0.30),
+        "scenario_cvar95_krw": _cvar95(shocked),
+        "gate": "PASS",
+    }
+
+
+def main() -> int:
+    ap = argparse.ArgumentParser()
+    ap.add_argument("--distribution", default=str(DEFAULT_DISTRIBUTION))
+    ap.add_argument("--out", default=str(DEFAULT_OUT))
+    args = ap.parse_args()
+
+    doc = _load(Path(args.distribution))
+    distribution = doc.get("net_profit_distribution_after_tax_fee_slippage")
+    distribution = [float(v) for v in distribution] if isinstance(distribution, list) and distribution else None
+
+    scenario_results = [evaluate_scenario(distribution, scenario_id) for scenario_id in SCENARIO_DEFINITIONS]
+
+    result = {
+        "formula_id": "SCENARIO_SHOCK_MATRIX_V1",
+        "gate": "PASS" if distribution else "DATA_MISSING",
+        "scenario_results": scenario_results,
+        "source_paths": [str(Path(args.distribution))],
+    }
+    out = Path(args.out)
+    out.write_text(json.dumps(result, ensure_ascii=False, indent=2), encoding="utf-8")
+    print(json.dumps(result, ensure_ascii=False, indent=2))
+    return 0
+
+
+if __name__ == "__main__":
+    raise SystemExit(main())

tools/build_sector_exposure_graph_v1.py

@@ -0,0 +1,149 @@
+#!/usr/bin/env python3
+"""SECTOR_EXPOSURE_GRAPH_V1 + LEADER_LIFECYCLE_GATE_V1 — spec/formulas/domains/sector.yaml.
+
+ETF lookthrough exposure + factor beta residualization + leader role promotion/demotion.
+governance/todo/v8_9_p1_adoption_plan.yaml P1-A.3.
+
+Hard rule (AGENTS.md): missing ETF constituents or peer betas are never assumed zero.
+"""
+from __future__ import annotations
+
+import argparse
+import json
+from pathlib import Path
+
+ROOT = Path(__file__).resolve().parents[1]
+DEFAULT_POSITIONS = ROOT / "Temp" / "sector_exposure_positions_v1.json"
+DEFAULT_OUT = ROOT / "Temp" / "sector_exposure_graph_v1.json"
+
+PROMOTION_PATH = ["LAGGARD", "CYCLICAL_BETA", "ENABLER", "CORE_LEADER", "CAPTAIN"]
+
+
+def _load(path: Path) -> dict:
+    if not path.exists():
+        return {}
+    try:
+        data = json.loads(path.read_text(encoding="utf-8"))
+        return data if isinstance(data, dict) else {}
+    except Exception:
+        return {}
+
+
+def sector_exposure(position: dict) -> dict:
+    direct_weight_pct = float(position.get("direct_weight_pct") or 0.0)
+    etf_constituents = position.get("etf_constituents_json")
+    etf_weight_pct = position.get("etf_weight_pct")
+    sector_id = position.get("sector_id")
+
+    if etf_constituents is None or etf_weight_pct is None:
+        return {
+            "sector_id": sector_id,
+            "direct_weight_pct": direct_weight_pct,
+            "lookthrough_etf_weight_pct": None,
+            "sector_family_total_pct": None,
+            "gate": "ETF_BUY_BLOCKED",
+            "reason_code": "constituents_missing",
+        }
+
+    lookthrough = sum(
+        float(c.get("weight_pct", 0.0)) * float(etf_weight_pct) / 100.0
+        for c in etf_constituents
+        if isinstance(c, dict) and c.get("sector_id") == sector_id
+    )
+    sector_family_total_pct = direct_weight_pct + lookthrough
+    return {
+        "sector_id": sector_id,
+        "direct_weight_pct": direct_weight_pct,
+        "lookthrough_etf_weight_pct": lookthrough,
+        "sector_family_total_pct": sector_family_total_pct,
+        "gate": "PASS",
+    }
+
+
+def residualize_factor_beta(factor_beta_raw: float, peer_sector_betas: list | None) -> tuple[float | None, str]:
+    if peer_sector_betas is None:
+        return factor_beta_raw, "PARTIAL_raw_beta_peer_data_missing"
+    shared_variance = sum(float(p.get("shared_variance", 0.0)) for p in peer_sector_betas if isinstance(p, dict))
+    return factor_beta_raw - shared_variance, "PASS"
+
+
+def evaluate_leader_role(position: dict) -> dict:
+    required_fields = [
+        "relative_strength_leads_sector",
+        "volume_quality_confirmed",
+        "above_ma60_or_reclaim_confirmed",
+        "earnings_revision_status",
+        "institutional_flow_status",
+    ]
+    current_role = position.get("current_role") or "LAGGARD"
+    if any(position.get(f) is None for f in required_fields):
+        return {"leader_role": current_role, "role_transition_reason": "DATA_MISSING", "role_changed": False}
+
+    demotion = (
+        (position["above_ma60_or_reclaim_confirmed"] is False and position["institutional_flow_status"] == "distribution")
+        or position["earnings_revision_status"] == "negative"
+        or (
+            position["institutional_flow_status"] == "distribution"
+            and current_role in ("CAPTAIN", "CORE_LEADER")
+        )
+    )
+    if demotion:
+        return {
+            "leader_role": "DISTRIBUTION_RISK",
+            "role_transition_reason": "demotion_trigger",
+            "role_changed": current_role != "DISTRIBUTION_RISK",
+        }
+
+    promotion_ok = (
+        position["relative_strength_leads_sector"] is True
+        and position["volume_quality_confirmed"] is True
+        and position["above_ma60_or_reclaim_confirmed"] is True
+        and position["earnings_revision_status"] != "negative"
+        and position["institutional_flow_status"] != "distribution"
+    )
+    if promotion_ok and current_role in PROMOTION_PATH:
+        idx = PROMOTION_PATH.index(current_role)
+        next_role = PROMOTION_PATH[min(idx + 1, len(PROMOTION_PATH) - 1)]
+        return {
+            "leader_role": next_role,
+            "role_transition_reason": "promotion_requires_all_satisfied",
+            "role_changed": next_role != current_role,
+        }
+
+    return {"leader_role": current_role, "role_transition_reason": "no_change", "role_changed": False}
+
+
+def main() -> int:
+    ap = argparse.ArgumentParser()
+    ap.add_argument("--positions", default=str(DEFAULT_POSITIONS))
+    ap.add_argument("--out", default=str(DEFAULT_OUT))
+    args = ap.parse_args()
+
+    doc = _load(Path(args.positions))
+    positions = doc.get("positions") if isinstance(doc.get("positions"), list) else []
+
+    rows = []
+    for position in positions:
+        if not isinstance(position, dict):
+            continue
+        exposure = sector_exposure(position)
+        leader = evaluate_leader_role(position)
+        beta_residualized, beta_status = residualize_factor_beta(
+            float(position.get("factor_beta_raw") or 0.0), position.get("peer_sector_betas")
+        )
+        rows.append({**exposure, **leader, "factor_beta_residualized": beta_residualized, "beta_status": beta_status})
+
+    result = {
+        "formula_id": "SECTOR_EXPOSURE_GRAPH_V1",
+        "gate": "PASS" if rows else "DATA_MISSING",
+        "rows": rows,
+        "source_paths": [str(Path(args.positions))],
+    }
+    out = Path(args.out)
+    out.write_text(json.dumps(result, ensure_ascii=False, indent=2), encoding="utf-8")
+    print(json.dumps(result, ensure_ascii=False, indent=2))
+    return 0
+
+
+if __name__ == "__main__":
+    raise SystemExit(main())

tools/build_sell_waterfall_engine_v4.py

@@ -0,0 +1,154 @@
+#!/usr/bin/env python3
+"""SELL_LOT_PARETO_SELECTOR_V1 — spec/formulas/domains/cash.yaml.
+
+Extends tools/build_sell_waterfall_engine_v3.py output with lot-level scoring
+(tax_loss_benefit, missed_upside_penalty, reentry_cost) and a Pareto dominance
+ranking within each hard_precedence stage, per
+governance/todo/v8_9_p0_adoption_plan.yaml P0-2.2.
+
+Backward compatible: every row from v3 is preserved unchanged; only new fields
+are appended.
+"""
+from __future__ import annotations
+
+import argparse
+import json
+from pathlib import Path
+
+ROOT = Path(__file__).resolve().parents[1]
+DEFAULT_V3 = ROOT / "Temp" / "sell_waterfall_engine_v3.json"
+DEFAULT_OUT = ROOT / "Temp" / "sell_waterfall_engine_v4.json"
+
+MAXIMIZE_FIELDS = [
+    "avoided_tail_loss_krw",
+    "cash_repair_benefit_krw",
+    "concentration_reduction_benefit_krw",
+    "tax_loss_benefit_krw",
+]
+MINIMIZE_FIELDS = [
+    "tax_fee_slippage_krw",
+    "reentry_cost_krw",
+    "missed_upside_penalty_krw",
+]
+
+
+def _load(path: Path) -> dict:
+    if not path.exists():
+        return {}
+    try:
+        data = json.loads(path.read_text(encoding="utf-8"))
+        return data if isinstance(data, dict) else {}
+    except Exception:
+        return {}
+
+
+def _numeric_or_missing(row: dict, field: str) -> tuple[float, bool]:
+    value = row.get(field)
+    if value is None:
+        return 0.0, True
+    try:
+        return float(value), False
+    except (TypeError, ValueError):
+        return 0.0, True
+
+
+def _lot_sell_score(row: dict) -> tuple[float, list[str]]:
+    missing_fields = []
+    values = {}
+    for field in MAXIMIZE_FIELDS + MINIMIZE_FIELDS:
+        value, missing = _numeric_or_missing(row, field)
+        values[field] = value
+        if missing:
+            missing_fields.append(field)
+    score = (
+        values["avoided_tail_loss_krw"]
+        + values["cash_repair_benefit_krw"]
+        + values["concentration_reduction_benefit_krw"]
+        + values["tax_loss_benefit_krw"]
+        - values["tax_fee_slippage_krw"]
+        - values["reentry_cost_krw"]
+        - values["missed_upside_penalty_krw"]
+    )
+    return score, missing_fields
+
+
+def _dominates(a: dict, b: dict) -> bool:
+    at_least_as_good = all(a.get(f, 0.0) >= b.get(f, 0.0) for f in MAXIMIZE_FIELDS) and all(
+        a.get(f, 0.0) <= b.get(f, 0.0) for f in MINIMIZE_FIELDS
+    )
+    strictly_better = any(a.get(f, 0.0) > b.get(f, 0.0) for f in MAXIMIZE_FIELDS) or any(
+        a.get(f, 0.0) < b.get(f, 0.0) for f in MINIMIZE_FIELDS
+    )
+    return at_least_as_good and strictly_better
+
+
+def _rank_pareto_group(rows: list[dict]) -> list[dict]:
+    annotated = []
+    for row in rows:
+        dominated_by = [
+            other["candidate_id"]
+            for other in rows
+            if other is not row and _dominates(other, row)
+        ]
+        annotated.append({**row, "pareto_dominated": bool(dominated_by), "dominated_by": dominated_by})
+    annotated.sort(
+        key=lambda r: (
+            r["pareto_dominated"],
+            -r["lot_sell_score_krw"],
+            r.get("tax_fee_slippage_krw", 0.0),
+            r.get("reentry_cost_krw", 0.0),
+        )
+    )
+    for idx, row in enumerate(annotated, start=1):
+        row["pareto_rank"] = idx
+    return annotated
+
+
+def main() -> int:
+    ap = argparse.ArgumentParser()
+    ap.add_argument("--base", default=str(DEFAULT_V3))
+    ap.add_argument("--out", default=str(DEFAULT_OUT))
+    args = ap.parse_args()
+
+    base = _load(Path(args.base))
+    rows = base.get("rows") if isinstance(base.get("rows"), list) else []
+
+    scored_rows = []
+    for idx, row in enumerate(rows):
+        if not isinstance(row, dict):
+            continue
+        candidate_id = row.get("candidate_id") or row.get("종목명") or f"LOT_{idx}"
+        score, missing_fields = _lot_sell_score(row)
+        scored_rows.append(
+            {
+                **row,
+                "candidate_id": candidate_id,
+                **{f: _numeric_or_missing(row, f)[0] for f in MAXIMIZE_FIELDS + MINIMIZE_FIELDS},
+                "lot_sell_score_krw": score,
+                "lot_sell_score_missing_fields": missing_fields,
+                "hard_precedence_stage": row.get("hard_precedence_stage") or row.get("우선순위단계"),
+            }
+        )
+
+    groups: dict[object, list[dict]] = {}
+    for row in scored_rows:
+        groups.setdefault(row.get("hard_precedence_stage"), []).append(row)
+
+    ranked_rows: list[dict] = []
+    for _stage, group_rows in groups.items():
+        ranked_rows.extend(_rank_pareto_group(group_rows))
+
+    result = {
+        "formula_id": "SELL_LOT_PARETO_SELECTOR_V1",
+        "gate": base.get("gate") or "PASS",
+        "rows": ranked_rows,
+        "source_paths": [str(Path(args.base))],
+    }
+    out = Path(args.out)
+    out.write_text(json.dumps(result, ensure_ascii=False, indent=2), encoding="utf-8")
+    print(json.dumps(result, ensure_ascii=False, indent=2))
+    return 0
+
+
+if __name__ == "__main__":
+    raise SystemExit(main())

tools/build_state_vector_constructor_v1.py

@@ -0,0 +1,91 @@
+#!/usr/bin/env python3
+"""STATE_VECTOR_CONSTRUCTOR_V1 — spec/formulas/domains/portfolio.yaml.
+
+Merges holdings/cash/tax_lots/sector_graph/factor_exposures/macro_regime_probabilities
+into one state_vector. Missing components stay null -- never backfilled from another
+component. governance/todo/v8_9_p3_adoption_plan.yaml P3-A.
+"""
+from __future__ import annotations
+
+import argparse
+import json
+from pathlib import Path
+
+ROOT = Path(__file__).resolve().parents[1]
+DEFAULT_CASH_LADDER = ROOT / "Temp" / "cash_ratios_v1.json"
+DEFAULT_POSITIONS = ROOT / "Temp" / "account_snapshot_v1.json"
+DEFAULT_SECTOR_GRAPH = ROOT / "Temp" / "sector_exposure_graph_v1.json"
+DEFAULT_OUT = ROOT / "Temp" / "state_vector_constructor_v1.json"
+
+COMPONENT_KEYS = [
+    "cash_ladder",
+    "positions",
+    "sector_exposure_graph",
+    "factor_exposures",
+    "tax_lots",
+    "risk_bucket_weights",
+    "macro_regime_probabilities",
+    "goal_progress_pct",
+]
+
+
+def _load(path: Path) -> dict:
+    if not path.exists():
+        return {}
+    try:
+        data = json.loads(path.read_text(encoding="utf-8"))
+        return data if isinstance(data, dict) else {}
+    except Exception:
+        return {}
+
+
+def construct_state_vector(components: dict) -> dict:
+    state_vector = {}
+    missing_components = []
+    for key in COMPONENT_KEYS:
+        value = components.get(key)
+        state_vector[key] = value
+        if value is None:
+            missing_components.append(key)
+    completeness_pct = 100.0 * (len(COMPONENT_KEYS) - len(missing_components)) / len(COMPONENT_KEYS)
+    return {
+        "state_vector": state_vector,
+        "state_vector_completeness_pct": completeness_pct,
+        "missing_components": missing_components,
+    }
+
+
+def main() -> int:
+    ap = argparse.ArgumentParser()
+    ap.add_argument("--cash-ladder", default=str(DEFAULT_CASH_LADDER))
+    ap.add_argument("--positions", default=str(DEFAULT_POSITIONS))
+    ap.add_argument("--sector-graph", default=str(DEFAULT_SECTOR_GRAPH))
+    ap.add_argument("--out", default=str(DEFAULT_OUT))
+    args = ap.parse_args()
+
+    cash_ladder_doc = _load(Path(args.cash_ladder))
+    positions_doc = _load(Path(args.positions))
+    sector_graph_doc = _load(Path(args.sector_graph))
+
+    components = {
+        "cash_ladder": cash_ladder_doc or None,
+        "positions": positions_doc.get("positions") if positions_doc else None,
+        "sector_exposure_graph": sector_graph_doc.get("rows") if sector_graph_doc.get("rows") else None,
+        "factor_exposures": None,
+        "tax_lots": positions_doc.get("tax_lots") if positions_doc else None,
+        "risk_bucket_weights": None,
+        "macro_regime_probabilities": None,
+        "goal_progress_pct": positions_doc.get("goal_progress_pct") if positions_doc else None,
+    }
+
+    result = {"formula_id": "STATE_VECTOR_CONSTRUCTOR_V1", **construct_state_vector(components)}
+    result["source_paths"] = [str(Path(args.cash_ladder)), str(Path(args.positions)), str(Path(args.sector_graph))]
+
+    out = Path(args.out)
+    out.write_text(json.dumps(result, ensure_ascii=False, indent=2), encoding="utf-8")
+    print(json.dumps(result, ensure_ascii=False, indent=2))
+    return 0
+
+
+if __name__ == "__main__":
+    raise SystemExit(main())

tools/build_transition_set_enumerator_v1.py

@@ -0,0 +1,153 @@
+#!/usr/bin/env python3
+"""TRANSITION_SET_ENUMERATOR_V1 — spec/formulas/domains/portfolio.yaml.
+
+Evaluates combinations of already-vetoed candidates as a portfolio-level set,
+so individually-passing candidates that jointly breach cash floor or
+concentration caps are rejected. governance/todo/v8_9_p2_adoption_plan.yaml P2-B.
+"""
+from __future__ import annotations
+
+import argparse
+import itertools
+import json
+from pathlib import Path
+
+ROOT = Path(__file__).resolve().parents[1]
+DEFAULT_TRANSITION_OPTIMIZER = ROOT / "Temp" / "portfolio_transition_optimizer_v1.json"
+DEFAULT_OUT = ROOT / "Temp" / "transition_set_enumerator_v1.json"
+
+COMPLEXITY_PENALTY_RATE_KRW = 5000.0
+
+
+def _load(path: Path) -> dict:
+    if not path.exists():
+        return {}
+    try:
+        data = json.loads(path.read_text(encoding="utf-8"))
+        return data if isinstance(data, dict) else {}
+    except Exception:
+        return {}
+
+
+def post_trade_mrc(transition_set: tuple[dict, ...], portfolio_total_risk_budget: float) -> float | None:
+    if not portfolio_total_risk_budget:
+        return None
+    total = sum(c.get("marginal_risk_contribution", 0.0) for c in transition_set)
+    return total / portfolio_total_risk_budget
+
+
+def post_trade_cvar95_krw(transition_set: tuple[dict, ...]) -> float | None:
+    values = [c.get("cvar95_loss_krw") for c in transition_set]
+    if any(v is None for v in values):
+        return None
+    return sum(values)
+
+
+def set_hard_constraint_pass(
+    transition_set: tuple[dict, ...],
+    portfolio_total_risk_budget: float = 0.0,
+    mrc_cap: float = 1.0,
+    cvar95_budget_krw: float | None = None,
+) -> bool:
+    post_trade_cash_floor_pct = sum(c.get("post_trade_cash_floor_delta_pct", 0.0) for c in transition_set)
+    post_trade_concentration_pct = sum(c.get("post_trade_concentration_delta_pct", 0.0) for c in transition_set)
+    if post_trade_cash_floor_pct < 0 or post_trade_concentration_pct > 0:
+        return False
+
+    mrc = post_trade_mrc(transition_set, portfolio_total_risk_budget)
+    if mrc is not None and mrc > mrc_cap:
+        return False
+
+    cvar95 = post_trade_cvar95_krw(transition_set)
+    if cvar95 is not None and cvar95_budget_krw is not None and cvar95 < -abs(cvar95_budget_krw):
+        return False
+
+    return True
+
+
+def set_transition_utility_krw(transition_set: tuple[dict, ...]) -> float:
+    total = sum(c.get("transition_utility_krw") or 0.0 for c in transition_set)
+    combination_penalty = COMPLEXITY_PENALTY_RATE_KRW * (len(transition_set) - 1)
+    return total - combination_penalty
+
+
+def enumerate_transition_sets(
+    candidates: list[dict],
+    max_set_size: int = 3,
+    portfolio_total_risk_budget: float = 0.0,
+    mrc_cap: float = 1.0,
+    cvar95_budget_krw: float | None = None,
+) -> list[dict]:
+    passing = [c for c in candidates if c.get("hard_constraint_pass") is True]
+    evaluated_sets = []
+    for size in range(1, min(max_set_size, len(passing)) + 1):
+        for combo in itertools.combinations(passing, size):
+            evaluated_sets.append(
+                {
+                    "candidate_ids": [c.get("candidate_id") for c in combo],
+                    "set_hard_constraint_pass": set_hard_constraint_pass(
+                        combo, portfolio_total_risk_budget, mrc_cap, cvar95_budget_krw
+                    ),
+                    "set_transition_utility_krw": set_transition_utility_krw(combo),
+                    "post_trade_mrc": post_trade_mrc(combo, portfolio_total_risk_budget),
+                    "post_trade_cvar95_krw": post_trade_cvar95_krw(combo),
+                }
+            )
+    return evaluated_sets
+
+
+def select_best_set(evaluated_sets: list[dict]) -> dict | None:
+    passing_sets = [s for s in evaluated_sets if s["set_hard_constraint_pass"]]
+    if not passing_sets:
+        return None
+    return max(
+        passing_sets,
+        key=lambda s: (s["set_transition_utility_krw"], -len(s["candidate_ids"])),
+    )
+
+
+def main() -> int:
+    ap = argparse.ArgumentParser()
+    ap.add_argument("--transition-optimizer", default=str(DEFAULT_TRANSITION_OPTIMIZER))
+    ap.add_argument("--max-set-size", type=int, default=3)
+    ap.add_argument("--out", default=str(DEFAULT_OUT))
+    args = ap.parse_args()
+
+    doc = _load(Path(args.transition_optimizer))
+    candidates = doc.get("candidate_actions") if isinstance(doc.get("candidate_actions"), list) else []
+
+    if not candidates:
+        result = {
+            "formula_id": "TRANSITION_SET_ENUMERATOR_V1",
+            "gate": "NO_TRADE",
+            "selected_transition_set": [],
+            "rejected_sets_count": 0,
+            "source_paths": [str(Path(args.transition_optimizer))],
+        }
+        out = Path(args.out)
+        out.write_text(json.dumps(result, ensure_ascii=False, indent=2), encoding="utf-8")
+        print(json.dumps(result, ensure_ascii=False, indent=2))
+        return 0
+
+    evaluated_sets = enumerate_transition_sets(candidates, args.max_set_size)
+    best = select_best_set(evaluated_sets)
+    rejected_count = len(evaluated_sets) - (1 if best else 0)
+
+    result = {
+        "formula_id": "TRANSITION_SET_ENUMERATOR_V1",
+        "gate": "PASS" if best else "NO_TRADE",
+        "selected_transition_set": best["candidate_ids"] if best else [],
+        "set_transition_utility_krw": best["set_transition_utility_krw"] if best else None,
+        "post_trade_mrc": best["post_trade_mrc"] if best else None,
+        "post_trade_cvar95_krw": best["post_trade_cvar95_krw"] if best else None,
+        "rejected_sets_count": rejected_count,
+        "source_paths": [str(Path(args.transition_optimizer))],
+    }
+    out = Path(args.out)
+    out.write_text(json.dumps(result, ensure_ascii=False, indent=2), encoding="utf-8")
+    print(json.dumps(result, ensure_ascii=False, indent=2))
+    return 0
+
+
+if __name__ == "__main__":
+    raise SystemExit(main())

tools/build_walk_forward_bootstrap_v1.py

@@ -0,0 +1,124 @@
+#!/usr/bin/env python3
+"""WALK_FORWARD_BOOTSTRAP_V1 — spec/formulas/domains/simulation.yaml.
+
+Generates net_profit_distribution_after_tax_fee_slippage from historical_returns via
+walk-forward (non-overlapping in/out-of-sample split, block resample on out-of-sample
+only) or regime-matched (filter + resample-with-replacement) bootstrapping.
+governance/todo/v8_9_p3_adoption_plan.yaml P3-B.
+
+Hard rule: no historical_returns or fewer than 2 samples -> DATA_MISSING. Never
+interpolate or fabricate a distribution.
+"""
+from __future__ import annotations
+
+import argparse
+import json
+import random
+from pathlib import Path
+
+ROOT = Path(__file__).resolve().parents[1]
+DEFAULT_HISTORICAL_RETURNS = ROOT / "Temp" / "historical_returns_v1.json"
+DEFAULT_OUT = ROOT / "Temp" / "walk_forward_bootstrap_v1.json"
+
+BLOCK_SIZE = 5
+
+
+def _load(path: Path) -> dict:
+    if not path.exists():
+        return {}
+    try:
+        data = json.loads(path.read_text(encoding="utf-8"))
+        return data if isinstance(data, dict) else {}
+    except Exception:
+        return {}
+
+
+def walk_forward_resample(historical_returns: list[dict], resample_count: int, rng: random.Random) -> list[float]:
+    sorted_returns = sorted(historical_returns, key=lambda r: r["date"])
+    split_idx = int(len(sorted_returns) * 0.7)
+    out_of_sample = sorted_returns[split_idx:]
+    if len(out_of_sample) < 2:
+        return []
+
+    values = [r["net_return_after_cost_pct"] for r in out_of_sample]
+    distribution = []
+    for _ in range(resample_count):
+        start = rng.randrange(0, max(1, len(values) - BLOCK_SIZE + 1))
+        block = values[start:start + BLOCK_SIZE]
+        distribution.append(sum(block) / len(block))
+    return distribution
+
+
+def regime_matched_resample(
+    historical_returns: list[dict], current_regime_state: str, resample_count: int, rng: random.Random
+) -> list[float]:
+    filtered = [r["net_return_after_cost_pct"] for r in historical_returns if r.get("regime_state") == current_regime_state]
+    if len(filtered) < 2:
+        return []
+    return [rng.choice(filtered) for _ in range(resample_count)]
+
+
+def main() -> int:
+    ap = argparse.ArgumentParser()
+    ap.add_argument("--historical-returns", default=str(DEFAULT_HISTORICAL_RETURNS))
+    ap.add_argument("--current-regime-state", default=None)
+    ap.add_argument("--bootstrap-method", default="walk_forward", choices=["walk_forward", "regime_matched"])
+    ap.add_argument("--resample-count", type=int, default=1000)
+    ap.add_argument("--out", default=str(DEFAULT_OUT))
+    ap.add_argument("--seed", type=int, default=None)
+    args = ap.parse_args()
+
+    doc = _load(Path(args.historical_returns))
+    historical_returns = doc.get("historical_returns") if isinstance(doc.get("historical_returns"), list) else None
+
+    if not historical_returns or len(historical_returns) < 2:
+        result = {
+            "formula_id": "WALK_FORWARD_BOOTSTRAP_V1",
+            "gate": "DATA_MISSING",
+            "net_profit_distribution_after_tax_fee_slippage": None,
+            "sample_count_total": len(historical_returns) if historical_returns else 0,
+            "sample_count_same_regime": 0,
+            "source_paths": [str(Path(args.historical_returns))],
+        }
+        out = Path(args.out)
+        out.write_text(json.dumps(result, ensure_ascii=False, indent=2), encoding="utf-8")
+        print(json.dumps(result, ensure_ascii=False, indent=2))
+        return 0
+
+    rng = random.Random(args.seed)
+    if args.bootstrap_method == "walk_forward":
+        distribution = walk_forward_resample(historical_returns, args.resample_count, rng)
+    else:
+        distribution = regime_matched_resample(historical_returns, args.current_regime_state, args.resample_count, rng)
+
+    sample_count_same_regime = len(
+        [r for r in historical_returns if r.get("regime_state") == args.current_regime_state]
+    )
+
+    if not distribution:
+        result = {
+            "formula_id": "WALK_FORWARD_BOOTSTRAP_V1",
+            "gate": "DATA_MISSING",
+            "net_profit_distribution_after_tax_fee_slippage": None,
+            "sample_count_total": len(historical_returns),
+            "sample_count_same_regime": sample_count_same_regime,
+            "source_paths": [str(Path(args.historical_returns))],
+        }
+    else:
+        result = {
+            "formula_id": "WALK_FORWARD_BOOTSTRAP_V1",
+            "gate": "PASS",
+            "net_profit_distribution_after_tax_fee_slippage": distribution,
+            "sample_count_total": len(historical_returns),
+            "sample_count_same_regime": sample_count_same_regime,
+            "source_paths": [str(Path(args.historical_returns))],
+        }
+
+    out = Path(args.out)
+    out.write_text(json.dumps(result, ensure_ascii=False, indent=2), encoding="utf-8")
+    print(json.dumps(result, ensure_ascii=False, indent=2))
+    return 0
+
+
+if __name__ == "__main__":
+    raise SystemExit(main())

tools/build_weekly_legacy_transfer_plan_v1.py

@@ -0,0 +1,56 @@
+#!/usr/bin/env python3
+"""WEEKLY_LEGACY_TRANSFER_PLAN_V1 — spec/formulas/domains/cash.yaml.
+
+A weekly legacy-stock-to-CMA transfer plan is a planning input, not deployable
+cash, until the deposit is actually confirmed. governance/todo/v8_9_p3_adoption_plan.yaml P3-E.
+"""
+from __future__ import annotations
+
+import argparse
+import json
+from pathlib import Path
+
+ROOT = Path(__file__).resolve().parents[1]
+DEFAULT_OUT = ROOT / "Temp" / "weekly_legacy_transfer_plan_v1.json"
+
+
+def evaluate_transfer_plan(
+    weekly_legacy_to_cma_transfer_plan_krw: float,
+    transfer_confirmed: bool | None,
+    transfer_confirmed_amount_krw: float | None,
+) -> dict:
+    confirmed = bool(transfer_confirmed)
+    if not confirmed:
+        return {
+            "deployable_cash_contribution_krw": 0.0,
+            "plan_status": "PLANNED_NOT_DEPLOYABLE",
+            "planned_amount_krw": weekly_legacy_to_cma_transfer_plan_krw,
+        }
+    amount = transfer_confirmed_amount_krw if transfer_confirmed_amount_krw is not None else 0.0
+    return {
+        "deployable_cash_contribution_krw": amount,
+        "plan_status": "CONFIRMED_DEPLOYABLE",
+        "planned_amount_krw": weekly_legacy_to_cma_transfer_plan_krw,
+    }
+
+
+def main() -> int:
+    ap = argparse.ArgumentParser()
+    ap.add_argument("--planned-amount", type=float, default=4000000.0)
+    ap.add_argument("--transfer-confirmed", action="store_true")
+    ap.add_argument("--confirmed-amount", type=float, default=None)
+    ap.add_argument("--out", default=str(DEFAULT_OUT))
+    args = ap.parse_args()
+
+    result = {
+        "formula_id": "WEEKLY_LEGACY_TRANSFER_PLAN_V1",
+        **evaluate_transfer_plan(args.planned_amount, args.transfer_confirmed, args.confirmed_amount),
+    }
+    out = Path(args.out)
+    out.write_text(json.dumps(result, ensure_ascii=False, indent=2), encoding="utf-8")
+    print(json.dumps(result, ensure_ascii=False, indent=2))
+    return 0
+
+
+if __name__ == "__main__":
+    raise SystemExit(main())