Equity Market – not so transparent?

Curious to see the recent increase in the LVMH holding in Hermes – essentially a below-the-radar move via some equity swaps  – more details here (you may need to register for access)…..in what is supposed to be a transparent market!

When I look at the aim(s) of Dodd-Frank(VII), the LVMH-Hermes story would suggest that there is much more work to do in the reporting space rather than pre-trade.

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