Let There Be Light: US Edition

• Dark pools executed approximately 17.44% of US equity volume last month, up 10 bps from September’s 17.34%
• Last month 15 of the 34 pools in our universe beat the 1.62% m/m decline in consolidated volume. For the fourth consecutive month, dark pool market share reached an eight-year high, increasing by 10 basis points to 17.44%
• PureStream (ADV +18.79% m/m) was the top-performing dark pool in October
• Single-dealer platforms excelled, while block-focused venues struggled
• Two new ATSs, TMX’s AlphaX and OTC Link’s Moon ATS, which will operate overnight, received SEC approval
• ATS block volume edged up during 2Q24, while both retail-wholesaler and ATS market share increased compared with 1Q24

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