Analyst: U.S. Market Consolidation Inevitable
Although current fragmentation may not be as bad as it seems, says Sang Lee, a managing partner at Aite and author of the report. "If you look back over the U.S. market structure over the past decade, you'll see we've had fragmentation before," he says.
What is different this time in the cycle is the emergence of dark pools of liquidity, which makes it difficult to predict where the market may go, Lee says.
Dark pools represent about 10 percent of the volume traded in U.S. equities today
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