Let There Be Light: US Edition

• Dark pools executed approximately 18.22% of US equity volume last month, a new record high and up 45 bps from March’s 17.54%
  
• Dark-pool average daily volume rose 23.73% m/m, to 3.52 billion shares, while consolidated ADV increased by a smaller margin of 20.68% m/m
  
• Several single-dealer platforms helped to drive the record high
  
• IntelligentCross released new data on the percentage of volume executed in its “private rooms”
  
• We provide the latest quarterly block analysis and off-exchange breakdown
  
• Hidden orders on lit markets executed 10.93% of US volume in April, up 82 bps from March

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