The term Dark Book is quite relevant in financial environments, especially in OTC (Over the Counter) markets, where assets are traded directly between parties. In such markets, information about buy and sell offers may be limited or unavailable to participants.
In summary, the term Dark Book refers to the absence of complete visibility over the buy and sell orders of an asset. In other words, investors do not have direct access to the detailed information about the orders in the order book of a specific financial asset.
In the context of certain forex brokers, price quotes for assets are obtained from a variety of liquidity providers, which may include banks, other brokers, or even other market participants. Based on these quotes, the broker subsequently presents the most favorable available offer to the investor at the time of order execution.
Given this behavior, we may encounter certain tools and indicators with partial depth or lacking flow information, sometimes displaying messages such as "Asset has no order book depth" or "Aggressors not available for this asset."
The Offers Book, for example, will display only the bid and ask prices.
Similar behavior may occur in other tools that display book information.
In Times & Sales, only the price, quantity, and timestamp will be displayed. Quotes will not include players, side, or aggressor in this tool.
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