Let There Be Light - US Edition

• Dark pools executed approximately 13.86% of US equity volume last month, up 48 bps from September’s 13.39%
• Dark-pool average daily volume rose 4.37% m/m, to 1.59 billion shares, while consolidated ADV increased 0.77% m/m
• Both block ATSs and single-dealer platforms excelled last month
• We added to our universe data for four ATSs: PureStream, OneChronos, Citi-ONE and Stifel X
• We provide our latest quarterly block analysis and off-exchange breakdown
• Hidden orders on lit markets executed 8.87% of US volume in October, up 57 bps from September

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