The market is buzzing with rumors that perpetual contract exchanges are beginning to roll out enterprise-level solutions. A recent example worth noting: an exchange has launched a feature set for institutional traders—API keys configured for trading without withdrawal permissions, rate limits and position caps set at the engine layer for protection, automatic circuit breakers triggered by abnormal spreads, and a trading hours panel that clearly shows when quotes become effective. These seemingly "boring" engineering designs are actually at the core of risk management. From API permission separation to multi-layer rate limiting, and real-time spread monitoring and circuit breakers—each measure reduces counterparty risk and market impact. This approach reflects the evolution of perpetual contract trading toward a more mature risk control framework, with institutional traders increasingly demanding such granular risk isolation.