Why do large institutional investors utilize dark pools to execute block trades instead of placing them directly on public exchanges?

Large institutional investors use dark pools—which are private financial exchanges not accessible to the general public—to execute block trades, which are large-scale orders to buy or sell a significant number of shares, usually defined as 10,000 shares or more or exceeding a specific dollar value. On a public exchange, every order is displayed in a limit order book, which is a public list of all buy and sell orders for a security. If an investor attempts to....