Let There Be Light: US Edition

• Dark pools hit a new record-high market share last month, executing approximately 19.08% of US equity volume, up 159 bps from March’s 17.49%
  
• Dark-pool average daily volume fell 5.05% m/m, to 3.40 billion shares, as consolidated ADV dropped 12.97% m/m
  
• Single-dealer platforms led the way, with several outperforming the wider market
  
• In the first quarter, total retail market share and retail wholesaling market share fell to six-year lows
  
• Hidden orders on lit markets executed 11.44% of US volume in April, up 60 bps from March

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