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Let There Be Light - US Edition

Let There Be Light - US Edition
  • Dark pools executed approximately 14.77% of US equity volume last month, up 96 bps from December’s 13.82%
  • Dark-pool average daily volume rose 12.25% m/m, to 1.67 billion shares, while consolidated ADV increased by a lesser margin of 4.96% m/m
  • Volatility fell to its lowest level since November 2021, contributing to substantial gains for block-focused ATSs
  • Although block pools did well in January, the percentage of ATS volume done as blocks dropped to a four-year low in the fourth quarter
  • Hidden orders on lit markets executed 8.96% of US volume in January, down 7 bps from December

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