How Does Post-Trade Reporting Differ between Traditional and Crypto OTC Markets?
Traditional dark pools are mandated to report trade details, like price and volume, to a Trade Reporting Facility (TRF) almost immediately after execution. This ensures post-trade transparency.
Crypto OTC desks often have less stringent or no formal public reporting requirements, though some voluntarily report data to third-party aggregators. This lack of mandatory reporting contributes to the overall opacity of the crypto OTC market.
