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Market Microstructure

Dark Pool Print

A large trade executed in a dark pool that is reported to the consolidated tape after execution.

Definition

A dark pool print refers to a large trade that has been executed in a dark pool and is subsequently reported to the consolidated tape, which is the public record of all trades executed across various exchanges.These prints can provide valuable information about the trading activity of institutional investors, as they often involve large volumes of shares that are not visible to the public until after the trade is completed.

Why it matters for Whale Tracking

Dark pool prints can indicate significant trading interest in a security, especially when they involve large volumes of shares.When an insider executes a dark pool print, it can signal a high level of confidence in the stock's future price movement, as they are willing to pay a premium for immediate execution.

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Technical Nuance

Analyzing dark pool prints in conjunction with other market data can provide insights into the behavior of institutional investors and potential upcoming price volatility in the underlying stock.

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Real-World Example

"A dark pool print of 500,000 shares at $150 is executed. Two days later, a Form 4 shows the CEO bought shares at the same price. This confirms that the dark pool 'whale' and the CEO share the same bullish outlook."

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