IEMG Dark Pool Activity

ATS off-exchange volume intelligence · Week of 2026-07-20

IEMG dark pool volume for the week of 2026-07-20: 8.2M shares traded across 27 ATS venues with a total notional value of $641.6M. Volume is down 34.4% week-over-week. Off-exchange dark pool transactions account for 17.7% of total IEMG market volume — elevated above the typical 10–14% institutional baseline, potentially signaling active accumulation or distribution. Primary routing venues include , INTELLIGENT CROSS LLC, UBS ATS.

Dark pool activity in IEMG reflects institutional order flow executing on Alternative Trading Systems (ATS) registered with the SEC — private venues where large-block trades are matched away from public exchanges to minimize price impact. StonkWhisper ingests FINRA-published ATS volume data to track these off-exchange flows. Sustained elevation in dark pool percentage — particularly when concentrated at specific venues — can indicate institutional accumulation or distribution ahead of significant price moves. The interactive charts below show 12-week historical volume and complete venue breakdown for IEMG.