• 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