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Let There Be Light - US Edition

April 26, 2021
  • Dark pools executed approximately 12.91% of US equity volume last month, up 32 bps from February’s 12.59%
  • Dark-pool average daily volume fell 10.37% m/m, to 1.72 billion shares, while consolidated ADV decreased 12.65% m/m
  • Most block pools gained market share in March
  • Single-dealer platforms, conversely, had a subpar March, as the retail trading from which many of them benefit continued to ease from its January peak
  • Hidden orders on lit markets executed 8.19% of US volume in March, up 45 bps from February

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