Let There Be Light - US Edition

• Dark pools executed approximately 14.64% of US equity volume last month, down 77 bps from May’s 15.41%
• Dark-pool average daily volume increased 0.70% m/m, to 1.65 billion shares, while consolidated ADV grew 6.00% m/m
• Despite the VIX average close hitting its lowest monthly level since before the pandemic, most dark pools and block ATSs were down in June
• This month, we added a new single-dealer platform to our reporting universe: Tower TRCX
• Hidden orders on lit markets executed 8.63% of US volume in June, down 34 bps from May

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