I am having the following setup of privately known signals and I am trying to understand an assumption. Here, I quote the setup.
Consider two agents idexed by $i=\{1,2\}$ and each one observes some privately noisy signal, that is \begin{align}s_i=\tilde{v}+\tilde{u_{i}}\end{align} where $(\tilde{v},\tilde{u_{i}})$ are identically distributed, with $\tilde{v}\sim N(v,\sigma_{v}^2)$ stand for the payoff of the risky asset and $\tilde{u_{i}}\sim N(0,\sigma_{u_{i}}^2)$ denotes the error term of each of the privately known signals. Also, it holds that $\sigma_{(u_1,u_2)}\neq 0$ and $\sigma_{(v,u_1)}=0=\sigma_{(v,u_2)}$.
The assumption that I am trying to understand following the aforementioned setup is the following:
``Every informed agent does know the cross sectional distribution of the privately knonw noisy signal that the other agent observes." Also in the market, there are uninformed traders etc. Does this mean, that in fact they know exactly the signal that each other observes or do I catch it wrong?