[csdvrx]

Well, you do with what you have (and the prices of apples may be correlated enough with the price of oranges to act as a proxy if you can't get the price of oranges), and the pros of "resilient to rigging" might be worth more than the cons.

[erosenbe0]

I agree with that. More information and less rigging is a more efficient market, which is a win-win for nearly everyone.

Maybe the big players could agree to record a decent portion of the transactions transparently across a clearinghouse or blockchain that would be audited manually or cryptographically. Then you have real-time approximation of rates.