LeveL Markets and Nasdaq Canada Partner on Liquidity Integration

LeveL Markets, LLC and Nasdaq Canada have announced a new connectivity partnership aimed at broadening access to liquidity for institutional traders. The agreement will allow participants on LeveL's Luminex Alternative Trading System (ATS) to connect directly to Nasdaq Canada's CXD trading book.

The integration builds on Luminex's existing platform, which has been a source of natural block liquidity for nearly a decade. Designed for the buy-side community, Luminex offers tools that help traders source unique liquidity while minimizing information leakage and protecting alpha. By adding access to CXD, users gain exposure to a non-displayed liquidity pool that supports size discovery and potential price improvement. Certain trading types under the CXD book remain subject to regulatory approval.

Steve Miele, CEO of LeveL Markets, said the partnership reflects both customer demand and the firm's broader global ambitions. "Our intuitive and customizable execution experience has resonated globally, and we are excited with our expansion to allow Luminex customers to access the Canadian marketplace," he stated. He described the collaboration as a key step in the company's long-term growth strategy, pointing to opportunities to extend its model to new markets worldwide.

Nasdaq Canada emphasized the benefit of connecting its local market with international participants. Dan Kessous, CEO of Nasdaq Canada, said the initiative "reinforces our commitment to advancing the competitiveness of Canada's trading ecosystem" by improving access to liquidity through seamless integration.