MSCI Dark Pool Activity
Msci Inc.
Data as of Oct 23, 2026 · Source: FINRA daily short sale volume (off-exchange)
On Oct 23, 2026, FINRA reported 230K MSCI shares in publicly disseminated off-exchange trades (dark pools and other off-exchange venues). 107K of those shares (46.3%) were marked short or short-exempt, above MSCI's 30-day rolling average of 42.0% (z-score 0.34). Over the last 10 FINRA sessions (Oct 12, 2026 – Oct 23, 2026), MSCI's off-exchange short volume ratio ranged from 19.0% to 54.9% and averaged 36.9%; the latest reading is above that 10-session average.
Off-Exchange Volume
230K
Short Volume
107K
Short Volume Ratio
46.3%
30-Day Average
42.0%
z-score 0.34
Daily readings — last 10 FINRA sessions
| Date | Off-exchange shares | Short shares | Short ratio |
|---|---|---|---|
| Oct 12, 2026 | 185K | 41K | 22.4% |
| Oct 13, 2026 | 203K | 49K | 24.0% |
| Oct 14, 2026 | 222K | 42K | 19.0% |
| Oct 15, 2026 | 240K | 76K | 31.5% |
| Oct 16, 2026 | 416K | 199K | 47.9% |
| Oct 19, 2026 | 458K | 179K | 39.0% |
| Oct 20, 2026 | 557K | 259K | 46.5% |
| Oct 21, 2026 | 317K | 174K | 54.9% |
| Oct 22, 2026 | 275K | 104K | 37.8% |
| Oct 23, 2026 Latest | 230K | 107K | 46.3% |
Source: FINRA daily short sale volume (off-exchange). Ratio = ShortVolume ÷ TotalVolume for the day.
MSCI dark pool FAQ
- How much MSCI off-exchange volume did FINRA report on Oct 23, 2026?
- FINRA's daily short sale volume file reported 230K MSCI shares in publicly disseminated off-exchange trades on Oct 23, 2026; 107K of those shares (46.3%) were marked short or short-exempt.
- Is MSCI's dark pool short volume ratio unusual right now?
- As of Oct 23, 2026, MSCI's short volume ratio of 46.3% is above MSCI's 30-day rolling average of 42.0% (z-score 0.34). Meridian's dark pool model does not flag this reading as an anomaly.
- What does the dark pool short volume ratio measure?
- FINRA publishes daily short sale volume for trades reported off-exchange to its trade reporting facilities, which include dark pools and other off-exchange venues. The ratio divides FINRA's ShortVolume figure, which counts both short and short-exempt sales, by the total off-exchange shares reported for that day. It is not short interest and not a directional signal: market-maker hedging and reporting mechanics can raise it, so it is context for other signals.