Financial institutions add internal observatories to amplify market transparency
Evidence
It is important to note that reciprocity here acquires an accomplished sense; by acting as conduits of information, traders and salespeople enable others to see what it is that they see market participants doing, and they help them infer what these parties may observe in the market. More reciprocity is accomplished through internal bulletin boards, which were progressively implemented by GB1 and other banks for specific financial instruments (e.g., spot or option trading) from 1996–97 onward. Internal bulletin boards allowed the dealers in this instrument to post what they saw in their local environments and to list some deals, so that others in the bank could pay attention to them. — Karin Knorr Cetina & Urs Bruegger, Global Microstructures, 81