Submit Intent

Paper is the simulation. placebo is the no-trade baseline (no children). phase_aware / randomized_timing submit real children. macro_gated pauses only inside named event windows (no global ±5 minute halt). crowding_gated pauses only when a peer names crowding — Pulse does not compute OFI. Empirical L2 replay needs a tape, not live TCA. live_small stays unarmed until an operator asks. Spot only. Submit is an accept receipt, not a fill. A missing paper book is not fillable.

Paper book: checking…. Public ticker is not the paper book until it is hydrated.