Market Structure Reports

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US Securities Volumes

Let There Be Light - US Edition

October 27, 2020
  • Dark pools executed approximately 11.77% of US equity volume last month, down 49 bps from August’s 12.26%
  • Dark-pool average daily volume rose 4.39% m/m, to 1.18 billion shares, while consolidated ADV increased 8.70% m/m
  • Smaller single-dealer platforms excelled last month while larger SDPs did not fare nearly as well
  • We provide commentary on the recent acquisition announcements for block pools, BIDS and Liquidnet
  • Hidden orders on lit markets executed 7.87% of US volume in September, up 31 bps from August

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