Nasdaq Buys Minority Stake in LeveL ATS

​Nasdaq​, a global technology company serving the capital markets and other industries, announced that it has acquired a significant minority stake in LeveL ATS, an independently operated US Equity Alternative Trading System.

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. Through this investment, Nasdaq joins a number of distinguished owners including Bank of America, Citi, and Fidelity.

"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."

Fazzaco reported that Nasdaq announced its financial results for the second quarter of 2021​ in July with net revenues registering an increase of 21% on a YoY basis.