Software code caches are becoming ubiquitous, in dynamic optimizers, runtime tool platforms, dynamic translators, fast simulators and emulators, and dynamic compilers. Caching frequently executed fragments of code provides significant performance boosts, reducing the overhead of translation and emulation and meeting or exceeding native performance in dynamic optimizers. One disadvantage of caching, memory expansion, can sometimes be ignored when executing a single application. However, as optimizers and translators are applied more and more in production systems, the memory expansion from running multiple applications simultaneously becomes problematic. A second drawback to caching is the added requirement of maintaining consistency between the code cache and the original code. On architectures like IA-32 that do not require explicit application actions when modifying code, detecting code changes is challenging. Again, consistency can be ignored for certain sets of applications, but as caching systems scale up to executing large, modern, complex programs, consistency becomes critical. This paper presents efficient schemes for keeping a software code cache consistent and for dynamically bounding code cache size to match the current working set of the application. These schemes are evaluated in the DynamoRIO runtime code manipulation system, and operate on stock hardware in the presence of multiple threads and dynamic behavior, including dynamically-loaded, generated, and even modified code.