Nasdaq Acquires Minority Stake in LeveL ATS
02 August 2021 - 10:01PM
Nasdaq (Nasdaq: NDAQ) and LeveL ATS today announced Nasdaq has
acquired 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,” said Tal Cohen, Executive Vice President and Head of
North American Markets, Nasdaq. “We are pleased to join several
leading sell-side firms to build on LeveL’s suite of products and
current market position.”
“In a rapidly changing market landscape, our independent
operating model has given us the ability to scale and expand our
product and service offerings,” said Whit Conary, Chief Executive
Officer, LeveL ATS. “Having Nasdaq onboard provides us with an even
greater runway for future growth, innovation and enhanced client
experience.”
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 three
proprietary volume weighted average price (VWAP) order types, VWAP
Block, VWAP Slice and VWAP Full Day.
About NasdaqNasdaq® (Nasdaq: NDAQ®) is a
global technology company serving the capital markets and other
industries. Our diverse offering of data, analytics, software and
services enables clients to optimize and execute their business
vision with confidence. To learn more about the company, technology
solutions and career opportunities, visit us on LinkedIn, on
Twitter @Nasdaq, or at www.nasdaq.com.
About LeveL Alternative Trading System
(ATS)LeveL ATS is a leading, independently operated US
Equity Dark Pool trading execution and technology provider focused
on delivering efficient, low-cost trading while minimizing market
impact and information leakage. Founded in 2006 by a consortium of
banks, LeveL ATS empowers clients to trade on a new level by
delivering a stable suite of products ranging from a continuous
crossing platform to VWAP order types, to fintech solutions and
sophisticated, low-latency trading platforms. For more information
on LeveL’s mission and offerings please contact us:
Salesdesk@LeveLATS.com / 800-958- 4813 or visit
www.LeveLATS.com. Follow us on LinkedIn and Twitter.
Cautionary Note Regarding Forward-Looking
StatementsThis press release contains forward-looking
statements, within the meaning of the Private Securities Litigation
Reform Act of 1995, including statements with respect to the
investment by Nasdaq in LeveL ATS and the benefits of the
transaction. We caution that these statements are not guarantees of
future performance. Actual results may differ materially from those
expressed or implied in the forward-looking statements.
Forward-looking statements involve a number of risks, uncertainties
or other factors beyond Nasdaq's control. These factors include,
but are not limited to factors detailed in Nasdaq's annual report
on Form 10-K, and periodic reports filed with the U.S. Securities
and Exchange Commission. We undertake no obligation to release any
revisions to any forward-looking statements.
NDAQF
Media Contacts:
NasdaqRyan Wells(646)
648-3887ryan.wells@nasdaq.com
LeveL ATS press@levelats.com
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