Nasdaq Acquires Off-Exchange Trading Venue LeveL Markets
On Tuesday, Nasdaq revealed a definitive agreement to purchase LeveL Markets, a leading off-exchange equity trading platform in the United States. Although the financial specifics of the transaction were not disclosed, this acquisition aligns with Nasdaq's goal to enhance its always-on markets and broaden its footprint in off-exchange trading. Operating as an alternative trading system (ATS), LeveL Markets facilitates equity trading outside conventional exchanges. This strategic acquisition aims to bolster Nasdaq's capabilities in the increasingly active off-exchange trading sector. The deal awaits regulatory approvals and standard closing conditions, with an expected completion in the upcoming months. This move highlights Nasdaq's dedication to diversifying its market infrastructure to meet the changing demands of traders and investors.
Key facts
- Nasdaq announced a definitive agreement to acquire LeveL Markets.
- LeveL Markets is one of the largest off-exchange equity trading venues in the U.S.
- Financial terms were not disclosed.
- The acquisition is part of Nasdaq's always-on markets strategy.
- LeveL Markets operates as an alternative trading system (ATS).
- The deal is subject to regulatory approvals and customary closing conditions.
- The announcement was made on Tuesday.
- The acquisition is expected to close in the coming months.
Entities
Institutions
- Nasdaq
- LeveL Markets
Locations
- United States
Sources
- Quartz —