back Back

Nasdaq takes minority stake in LeveL ATS

By Pavithra R

August 03, 2021

  • America
  • Nasdaq
Share

Nasdaq takes minority stake in LeveL ATSNasdaq, a global technology company serving the capital markets and other industries, has announced acquiring a significant minority stake in LeveL ATS, a leading, independently operated US Equity Dark Pool trading venue. 

Through this investment, Nasdaq joins owners including Bank of America, Citi, and Fidelity. The terms of the transaction were not disclosed.

“As one of the most innovative and well recognized broker-neutral trading platforms across US equities, LeveL has demonstrated the ability to consistently meet the evolving needs of investors and serve as an important source of liquidity for its members. We are pleased to join several leading sell-side firms to build on LeveL’s suite of products and current market position,” said Tal Cohen, Executive Vice President and Head of North American Markets, Nasdaq.

Launched in 2006, LeveL ATS provides a continuous crossing platform, giving customers the opportunity for seamless trading in a highly stable dark pool environment while minimizing information leakage and market impact. Most recently, LeveL launched 3 proprietary volume-weighted average price (VWAP) order types, VWAP Block, VWAP Slice and VWAP Full Day.

“In a rapidly changing market landscape, our independent operating model has given us the ability to scale and expand our product and service offerings. Having Nasdaq onboard provides us with an even greater runway for future growth, innovation and enhanced client experience,” said Whit Conary, Chief Executive Officer, LeveL ATS.

Established in 1971, Nasdaq is a global technology company serving the capital markets and other industries. According to company data, Nasdaq’s market technology powers 300 of the world’s market infrastructure organizations and market participants, including broker-dealers, clearinghouses, exchanges, central securities depositories and regulators, in over 50 countries with end-to-end, mission-critical technology solutions.

Previous Article

August 03, 2021

FinTech Mergers & Acquisitions (America): July 2021

Read More
Next Article

August 03, 2021

Deko partners with Newpay to expand the lender panel

Read More









IBSi Daily News Analysis

Middle East, Egypt

January 16, 2024

America

Egypt among top remittance recipient countries in 2023: World Bank

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

Storfund & Mangopay to ease cash flow for marketplace sellers

Read More

Today

Revolut teams with Jabil to scale development of mobile payment solutions

Read More

Today

Worldline partners with Google to enhance cloud-based innovation

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q4 2023
Know More
Wealth Management & Private Banking Systems Report Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q4 2023
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023