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Let There Be Light - US Edition

March 23, 2020
  • Dark pools executed approximately 13.65% of US equity volume last month, down 12 bps from January’s 13.77%
  • Dark-pool average daily volume grew 20.33% m/m, to 1.26 billion shares, while consolidated ADV rose 21.42% m/m
  • Both block pools and single-dealer platforms performed well in February
  • We provide commentary on five material amendment filings to Form ATS-Ns
  • Hidden orders on lit markets executed 9.01%% of US volume in February, up 47 bps from January
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