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Let There Be Light: US Edition

Let There Be Light: US Edition
  • Dark pools executed approximately 17.13% of US equity volume last month, up 57 bps from July’s 16.56% and an eight-year high for the second consecutive month
  • Dark-pool average daily volume increased 5.78% m/m, to 1.96 billion shares, while consolidated ADV rose 2.28% m/m
  • Last month’s biggest individual volume-share gainers included three trajectory crossing ATSs
  • Even though overall dark pool market surged, single-dealer platforms had a mixed month and block ATSs failed to keep up with the broader market
  • Hidden orders on lit markets executed 8.96% of US volume in August, up 23 bps from July

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