Nanex ~ 13-Nov-2012 ~ Hiding in the Dark (Pools)

On November 13, 2012, just seconds before market close, about 600,000 shares traded in the stock of Western Asset High Income Fund (symbol HIX). Approximately half of these shares executed on the lit exchanges, and half on dark pools. It appears as if aggressive sell orders executed on the lit markets, and aggressive buy orders executed in the dark pools. However, since dark pools often delay sending trade reports (they have up to 90 seconds!), it is very difficult to determine whether trades executed in the dark pools were from aggressive buying or selling.

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