The ability of all market traders to "see" or deal in the same price.
Equal access by all potential traders to current bid and asks prices in a marketplace. For example, CME FX futures are traded in a marketplace in which there is price transparency.
When both buyer and seller know pricing. Net markets can eliminate arbitrage situations when only a broker knows the price. Net markets can result in sellers making more money and buyers paying a lower price, since broker margins are reduced.