Canadian Trading Monthly

• The 194 equities listed in both Canada and the US had average daily volume across both countries of 1.08 billion shares in March (-10.95% m/m).
  
• Of this total, 670.5 million (-16.35% m/m) traded in the US and 413.8 million (-0.55% m/m) in Canada, for a US-CAD split of 61.8%-38.2%.
  
• Looking at value traded, the gap is slightly lower, at 60.8% traded south of the border compared to 39.2% north.
  
• The US OTC market traded 3.71% of the total value in single-listed Canadian securities, down 30 bps m/m.
  
• Average daily volume increased 0.71% m/m (+43.63% y/y), to 1.67 billion shares.
  
• Exchange-traded-product ADV climbed 9.07% m/m to 259.3 million, accounting for 15.50% of equity ADV (+119 bps m/m).
  
• Dark-pool market share increased 7 bps m/m (+28 bps y/y) to 6.81%.
  Hidden orders on lit markets executed 5.37% of Canadian volume in March, up 4 bps from February.

‍

‍

‍