Canadian Trading Monthly: Inter-Listed and Dark Volume Analysis

• The 201 equities listed in both Canada and the US had average daily volume across both countries of 694.0 million shares in June (0.94% m/m).
• Of this total, 401.1 million (-1.40% m/m) traded in the US and 292.9 million (+3.45% m/m) in Canada, for a US-CAD split of 57.8%-42.2%, compared with 59.0%-51.0%, in May.
• The US OTC market traded +2.68% of the total value in single-listed Canadian securities, down 21 bps m/m.
• Market-wide Canadian ADV (including single-listed names) rose 2.33% m/m (+22.64% y/y), to 992.5 million shares.
• Dark-pool market share fell 37 bps m/m, to 5.32%.
• Hidden orders on lit markets executed 3.87% of Canadian volume in June, down 17 bps from May.

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