  We introduce a trace semantics for a call-by-value language with full
polymorphism and higher-order references. This is an operational game semantics
model based on a nominal interpretation of parametricity whereby polymorphic
values are abstracted with special kinds of names. The use of polymorphic
references leads to violations of parametricity which we counter by closely
recoding the disclosure of typing information in the semantics. We prove the
model sound for the full language and strengthen our result to full abstraction
for a large fragment where polymorphic references obey specific inhabitation
conditions.
