Market structure quiz / data through the week of 2026-09-07, refreshed 2026-10-01
When a trade happens away from an exchange, it either crossed in a dark pool where institutions trade size, or a dealer filled somebody's small order. Three tickers, one question, five rounds. The answer is not about price.
Round 1 of 5 · 0 correct
Pick the name where the largest share of off-exchange volume never crossed in a dark pool.
FINRA publishes off-exchange volume weekly and separates registered dark pools
from everything else in a field called summaryTypeCode. Most retail-facing tools
quote the sum of the two and call all of it dark pool activity. Across roughly 2,700 large-cap
names, about 63.8% of it never crossed in a dark pool at all.
Each figure here is a ten week mean, so it is a structural property of who trades a name rather than anything that happened this week. The data has no buy or sell side in it, and FINRA publishes each week about two to three weeks after it ends, so it is already old by the time anyone can read it.
Attribution. OTC Transparency data is provided via finra.org and is copyrighted by FINRA 2026. FINRA is the owner and source of this data; the figures here are derived from it. Free to read, never sold.
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