can someone explain wtf "X is good for price discovery" means because it seems that people throw this phrase around and have no idea (or, at least, I certainly don't)
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anyways, I think some other replies here cover what this might mean, but it’s a fairly technical notion in a lot of ways, from what I gather… not something one can easily throw around as a criticism or plus of a given market
) X is one of many markets? And here is where I lose the threadYeah, I think to answer that you would need to model the information content of order flow and determine how the market reacts to that flow. The fed did a study here of FX markets which I highly recommend: https://www.federalreserve.gov/econres/feds/files/2020051pap.pdf …