Really appreciate all the thought and analysis that has gone into this recommendation. You raise all the right questions about how to make sure our products are primed for success right out the gate. As I’ve proposed in IIP-XY: Forming a Liquidity Pod, I’d like to see a group of specialists take ownership of handling liquidity for new products. I envision PWG / Composite Indices Pod being a part of this group.
I will say that I’m not a fan of a standard $400K for every product. It may be the case that we want to throw a lot of weight behind one product, in which case $400K won’t be enough. I’m usually a big fan of simplicity, but in this case I like having some freedom of movement.