 Integrable terminal bracket criterion

For a continuous local martingale starting at zero, finite expected terminal quadratic variation is equivalent to being an L2-bounded continuous martingale. Stop at bounded path and bracket levels and use $\mathbb{E}(M_t^{\tau }{)}^2=\mathbb{E}[M{]}_{t\wedge \tau }$. Uniform integrability removes the localization; Doob L2 maximal inequality justifies convergence of squares. The terminal identity is $\mathbb{E}{M}_{\infty }^2=\mathbb{E}[M{]}_{\infty }$. For nonzero initial values one must additionally assume $M_0\in L^2$.