It’s worth pointing out that, in most U.S. localities at least, real estate transactions become public knowledge once they close. You can go look up, on a gover

It’s worth pointing out that, in most U.S. localities at least, real estate transactions become public knowledge once they close. You can go look up, on a government website, how much a property sold for even if the transaction was conducted privately. So price discovery is still possible. I don’t think there is an equivalent public reporting mechanism for private “dark pool” transactions of financial instruments. Another way to say “without impacting the market” is “denying the market information it needs to set prices accurately.”