Lit market A lit market is a venue that publishes its order book before execution. The term exists to distinguish ordinary exchanges from dark pools. market microstructure · updated 2026-09-23 See also Dark pool — A dark pool is a trading venue that does not display its order book before trades occur, publishing only executions after the fact… Order book — The order book is the live list of all outstanding buy and sell orders for an instrument, arranged by price, that a trading venue … Terms that refer here Dark pool Back to the full glossary — 261 defined terms.