kaal:claim:4033886-021

Principal to principal markets are generally not considered observable because little information about their transactions is publicly available, which pushes assets priced there out of the observable input levels.

Source quote, verbatim

There is often little information about principal-to-principal transactions publicly available, and as such the markets are generally not considered observable.81

From

Wulf A. Kaal, Samuel Evans, Hayley Howe, Digital Asset Valuation (2022), III.3 Discounted Cash Flow Model, p. 20
https://ssrn.com/abstract=4033886 · source PDF

Cite as

Wulf A. Kaal, Samuel Evans, Hayley Howe, Digital Asset Valuation (2022). SSRN: https://ssrn.com/abstract=4033886

Holds when

principal to principal markets
fair value input hierarchy

Classification

mechanismsupport: evidencedfailure: unobservable market inputsfamily: valuation-and-pricing-failureinstitutional-design

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