{
  "schema_version": 2,
  "data_quality": {
    "full_book_replay": "blocked",
    "snapshot_reconciliation": "not_run",
    "reasons": [
      "vendor order-type, side and cancellation meanings unverified",
      "cross-stream exchange order unverified"
    ],
    "causal_impact": "not_identified",
    "actual_slippage": "not_measured"
  },
  "observed_diagnostics": {
    "shenzhen_reference_coverage": {
      "trade_rows": 838079,
      "buy_reference_rate": 0.9968320408935196,
      "sell_reference_rate": 0.9975288725764516,
      "reference_after_trade_count": 0.0
    },
    "shared_security_timestamp_pairs": 441806,
    "numeric_order_types_are_unmapped": true
  },
  "simulation": {
    "status": "snapshot_counterfactual_only",
    "sample_paths": 12,
    "day": "2021-01-04",
    "requested_quantity_share": 10000,
    "horizon_seconds": 300,
    "buy_budget_cny": 1000000,
    "aggregate_results": [
      {
        "side": "buy",
        "mode": "limit_wait",
        "paths": 12,
        "full_fill_paths": 7,
        "median_fill_fraction": 1.0,
        "costs": {
          "execution_cost_cny": {
            "observed_paths": 12,
            "conditional_p50": -59.0
          },
          "opportunity_cost_cny": {
            "observed_paths": 12,
            "conditional_p50": 0.0
          },
          "total_shortfall_bp": {
            "observed_paths": 12,
            "conditional_p50": -9.443128916169824
          },
          "completion_duration_ms": {
            "observed_paths": 7,
            "conditional_p50": 120000.0
          }
        }
      },
      {
        "side": "buy",
        "mode": "market",
        "paths": 12,
        "full_fill_paths": 11,
        "median_fill_fraction": 1.0,
        "costs": {
          "execution_cost_cny": {
            "observed_paths": 12,
            "conditional_p50": 201.99999999999454
          },
          "opportunity_cost_cny": {
            "observed_paths": 12,
            "conditional_p50": 0.0
          },
          "total_shortfall_bp": {
            "observed_paths": 12,
            "conditional_p50": 27.782021899668052
          },
          "completion_duration_ms": {
            "observed_paths": 11,
            "conditional_p50": 0.0
          }
        }
      },
      {
        "side": "buy",
        "mode": "twap",
        "paths": 12,
        "full_fill_paths": 12,
        "median_fill_fraction": 1.0,
        "costs": {
          "execution_cost_cny": {
            "observed_paths": 12,
            "conditional_p50": -58.0
          },
          "opportunity_cost_cny": {
            "observed_paths": 12,
            "conditional_p50": 0.0
          },
          "total_shortfall_bp": {
            "observed_paths": 12,
            "conditional_p50": -7.625128288229892
          },
          "completion_duration_ms": {
            "observed_paths": 12,
            "conditional_p50": 240000.0
          }
        }
      },
      {
        "side": "sell",
        "mode": "limit_wait",
        "paths": 12,
        "full_fill_paths": 6,
        "median_fill_fraction": 0.5,
        "costs": {
          "execution_cost_cny": {
            "observed_paths": 12,
            "conditional_p50": -25.0
          },
          "opportunity_cost_cny": {
            "observed_paths": 12,
            "conditional_p50": 99.99999999999787
          },
          "total_shortfall_bp": {
            "observed_paths": 12,
            "conditional_p50": 7.052053680109053
          },
          "completion_duration_ms": {
            "observed_paths": 6,
            "conditional_p50": 60000.0
          }
        }
      },
      {
        "side": "sell",
        "mode": "market",
        "paths": 12,
        "full_fill_paths": 12,
        "median_fill_fraction": 1.0,
        "costs": {
          "execution_cost_cny": {
            "observed_paths": 12,
            "conditional_p50": 62.0
          },
          "opportunity_cost_cny": {
            "observed_paths": 12,
            "conditional_p50": 0.0
          },
          "total_shortfall_bp": {
            "observed_paths": 12,
            "conditional_p50": 13.637128478118775
          },
          "completion_duration_ms": {
            "observed_paths": 12,
            "conditional_p50": 0.0
          }
        }
      },
      {
        "side": "sell",
        "mode": "twap",
        "paths": 12,
        "full_fill_paths": 12,
        "median_fill_fraction": 1.0,
        "costs": {
          "execution_cost_cny": {
            "observed_paths": 12,
            "conditional_p50": 185.0
          },
          "opportunity_cost_cny": {
            "observed_paths": 12,
            "conditional_p50": 0.0
          },
          "total_shortfall_bp": {
            "observed_paths": 12,
            "conditional_p50": 25.358197169707875
          },
          "completion_duration_ms": {
            "observed_paths": 12,
            "conditional_p50": 240000.0
          }
        }
      }
    ],
    "participation": {
      "status": "unavailable",
      "reason": "saved TotalVolume has no audited interval-volume contract or reset/auction treatment for a causal cap",
      "needed_input": "verified cumulative-volume units, clock and reset contract with trailing realized-volume baseline"
    },
    "assumptions": [
      "first 12 saved Shenzhen securities on TradingDay=20210104 in lexical order",
      "first quote per timestamp; displayed depth refreshes at each clock",
      "no own-impact, fees, lot rounding, queue reconstruction or participation cap",
      "TWAP releases five fixed quantity slices at 0,60,120,180,240 seconds; next quote executes",
      "limit wait uses arrival same-side best price; marketable crossing only",
      "passive fill lower bound zero; upper bound requested quantity, no inferred cash",
      "shortfall uses arrival mid and fixed-horizon past mid with 60-second freshness; fees zero excluded",
      "future quotes are execution outcomes at their clock, never signal features"
    ]
  },
  "publication_permission": {
    "confirmed_by_owner": true,
    "confirmed_on": "2026-10-12",
    "scope": "aggregate_derived_statistics"
  },
  "calibration_entry": {
    "status": "implemented_actual_inputs_missing",
    "actual_order_calibrated": false,
    "causal_own_impact_identified": false,
    "validation_fixture_kind": "synthetic",
    "validation_fixture_parents": 80,
    "validation": {
      "status": "evaluated",
      "train_orders": 56,
      "purged_training_orders": 0,
      "test_orders": 24,
      "baseline": "training_side_median",
      "baseline_test_mae_bp": 0.49188577992048677,
      "baseline_test_bias_bp": -0.09982648421354619,
      "baseline_test_p90_absolute_error_bp": 0.6065197724561822,
      "supplied_prediction_test_orders": 24,
      "supplied_prediction_test_mae_bp": 0.49188577992048677,
      "supplied_predictions_ex_ante_verified": false
    },
    "source_receipt_sha256": "7fedd8edf26ffc8a23607af57a46a664064a9d6086a617e42ebbb730b0455b90"
  },
  "source_summary_sha256": "49470377289ecf7b9f1b3e121f8fa49e630f500d30457a4fe0e6e08dc675f5da",
  "correction": {
    "reviewed_on": "2026-10-12",
    "supersedes": "replay-v6",
    "run": "replay-v7",
    "reason": "Explicit TradingDay filter replaces mixed-date snapshot paths; 72 same-day paths and 234 fills independently reconciled."
  }
}