What Is ‘Print Size’ and Why Is It a Concern for Institutional Traders Using Dark Pools?
'Print size' refers to the size of the executed trade that is publicly reported. For institutional traders, the concern is that a large print size from a dark pool execution, even though the trade was anonymous, can reveal the presence of a large buyer or seller.
This post-trade transparency can still lead to 'information leakage' and market impact, as other participants can infer the trader's strategy and adjust their own trading accordingly.
Glossar
Institutional Traders
Capital ⎊ Institutional traders, within cryptocurrency derivatives and options markets, represent a significant source of liquidity and price discovery, often deploying substantial capital across diverse strategies.
Execution ⎊ Print, within cryptocurrency derivatives, denotes the confirmed completion of a trade order at a specified price, reflecting the actual transaction occurring on an exchange or decentralized platform.
Post-Trade Transparency
Disclosure ⎊ Post-Trade Transparency within cryptocurrency, options, and derivatives markets necessitates the public dissemination of transaction details following execution, enhancing market surveillance and reducing systemic risk.