disclosure for 48 hours. here with more is claire boston and brian chappatta. claire, over the last couple decades the market has moved to a more transparent platform. but now you have a group of market makers who seem to have effectively lobbied the industry regulators to provide more opacity on how to do business. claire: this is a trade that has been asked for for a long time, by some of the biggest the corporate bond world. they argue that the corporate bond world has gotten so illiquid since the financial crisis, it can be hard to execute bigger trades. when a dealmaker takes a chunk of a bond issue, that can moved the market and make it harder to let go of the bonds. joe: how weird is it to see in your view the shift away from greater transparency? brian: really weird. this is a big market of corporate bonds.