The role of financial institutions in price discovery is pivotal. It has been extensively discussed by Fleming and Nguyen in their article titled "Order Flow Segmentation and the Role of Dark Trading in the Price Discovery of U.S. Treasury Securities"(Fleming & Nguyen, 2019). The article highlights how financial institutions are crucial for efficient price discovery, and it is essential to acknowledge their contribution to the market. Acting as intermediaries, banks match the supply and demand for funds, influencing asset prices. Investment firms contribute to price discovery by researching, analyzing investment opportunities, and providing market insights. Insurance companies manage risks associated with price fluctuations, enhancing market stability. Through these mechanisms, financial institutions ensure that asset prices accurately reflect available information and market participants' expectations, aligning with insights from Fleming and Nguyen's U.S. Treasury securities market research