Market Structure Reports

• The 184 equities listed in both Canada and the US had average daily volume across both countries of 652.2 million shares in February, up 14.78% m/m.
• Of this total, 341.8 mn (52.4%) traded in the US (+22.73% m/m) and 310.4 mn (47.6%) in Canada (+7.14% m/m), compared with a 49.0%-51.0% US-CAD split in January.
• Market-wide ADV, including single-listed issues, increased 6.67% m/m (-3.33% y/y), to 1.16 billion.
• Dark-pool market share fell 21 bps m/m (+168 bps y/y), to 8.27%.