Let There Be Light - US Edition

• Dark pools executed approximately 13.49% of US equity volume last month, down 30 bps from February’s 13.79%
• Dark-pool average daily volume jumped 11.95% m/m, to 1.88 billion shares, while consolidated ADV climbed 14.43% m/m
• With volatility spiking last month, block ATSs were among the worst-performing pools
• Single-dealer platforms, especially the larger ones, performed well last month
• Hidden orders on lit markets executed 8.52% of US volume in March, up 10 bps from February.

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