Let There Be Light - US Edition

• Dark pools executed approximately 13.54% of US equity volume last month, down 49 bps from May’s 14.03%
• Dark-pool average daily volume fell 6.79% m/m, to 1.73 billion shares, while consolidated ADV dropped 3.42% m/m
• Smaller SDPs especially excelled in June
• All block pools were among the worst performing pools last month
• Hidden orders on lit markets executed 8.21% of US volume in June, down 46 bps from May

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