While it’s still too early to assess the repercussions of the Association of National Advertisers’ (ANA) media transparency report issued Tuesday, industry analysts expect the dynamics between advertisers and their programmatic trading desks to bear the burden of the impact.

Though the 62-page report didn’t name names, it cited instances of non-transparent practices among agency trading desks.

“This release puts flesh on the bones of a skeleton we already knew was in the closet,” said Brian Wieser, a senior analyst at Pivotal Research Group, who noted holding company stock has, ironically, been trading up all week despite Tuesday’s bomb drop.

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