Sofiane Boutgajouft
CEO & Founder — OrgaX LLC
Overview
A decade building what the industry couldn't find.
Sofiane Boutgajouft is the founder and CEO & Founder of OrgaX LLC, and the creator of the Boutgajouft Liquidity Triangle Theory™ — a formal mathematical framework for structural market modelling in mean-reverting instruments.
His work began with a fundamental dissatisfaction: the dominant frameworks in retail and systematic trading — whether heuristic concepts like ICT and SMC, or statistical approaches like trend following — were built on intuition, not structure. He set out to answer a different question: can market geometry be derived axiomatically, without discretionary interpretation?
The result is the BLT Engine — a systematic trading strategy that has demonstrated near-zero market beta (β̄ₘ = 0.037, p = 0.540) and positive returns across every major market regime from the 2008 Global Financial Crisis to 2025, without active hedging, without leverage, and without period-specific optimisation.
Research output
Seven working papers. One unified theory.
Boutgajouft has independently published seven working papers on SSRN between 2025 and 2026, forming a complete theoretical and empirical corpus — from the foundational axioms of BLT Theory through large-scale Monte Carlo validation across 17 years of multi-regime market data.
papers
validated
simulations
Publication timeline
The research sequence.
Boutgajouft Liquidity Triangle Theory™ — Founding paper
Mathematical axioms and geometric modelling of the BLT protocol. Published independently on SSRN.
BLT Engine Performance Report — Backtesting 2023–2025
First empirical validation across Gold and Forex markets on QuantConnect Institutional.
Structural Modeling vs Heuristic Concepts — Comparative study
Academic comparison against ICT and Smart Money Concepts methodologies.
BLT Engine — Crypto market regime extension
Crisis-alpha validation across Bitcoin bull and bear market cycles.
Zero-Beta Decorrelation — Theoretical implications
Four-category decorrelation taxonomy. CAPM and EMH implications. First documented Category IV strategy.
Crisis-Alpha & Structural Decorrelation — 17-year validation
10,000 Monte Carlo simulations. Bootstrap CI [−0.080, 0.141]. Actual at 50.7th percentile.
Approach
Structure over signal.
Where most systematic frameworks attempt to predict market direction, the BLT Engine operates from a different premise entirely: that price formation in mean-reverting instruments follows deterministic geometric laws that can be expressed formally, tested rigorously, and deployed without discretionary override.
The empirical consequence — Category IV structural decorrelation — is not an optimisation target. It is a mathematical consequence of the instrument universe construction. The BLT Engine does not hedge to achieve β ≈ 0. It achieves it structurally, because the instruments it trades carry no dependency on equity market direction.
Instrument expertise
Mean-reverting markets.
The BLT Engine operates exclusively in instruments where the structural conditions of BLT Theory hold: sustained mean-reverting behaviour without persistent directional momentum.