Nasdaq Completes Acquisition of LeveL Markets, Advancing its Always-On Vision
Key Highlights
- ➤Nasdaq (NDAQ) completed its acquisition of LeveL Markets, a major U.S. equity ATS.
- ➤LeveL Markets processes hundreds of millions of shares daily across more than 7,000 symbols.
- ➤LeveL Markets serves more than 2,500 clients through over 15 trading-system integrations.
- ➤LeveL Markets’ average daily volume grew 56 percent year-over-year in 2025.
- ➤LeveL Markets ranked as the third-largest U.S. ATS by trading volume.
Expert Statements
Roland Chai, Head of Nasdaq’s Digital Liquidity Networks
“We are pleased to welcome LeveL Markets' clients to Nasdaq and look forward to supporting a seamless transition”
Roland Chai, Head of Nasdaq’s Digital Liquidity Networks
“LeveL Markets advances our vision for more connected, always-on markets by adding a scaled off-exchange liquidity platform and execution expertise to Nasdaq’s technology, market capabilities, and client relationships. We will continue to develop LeveL Markets’ strong platform and client communities to drive long-term growth and innovation.”
NEW YORK, Oct. 15, 2026 (GLOBE NEWSWIRE) -- Nasdaq (Nasdaq: NDAQ) today announced the completion of its acquisition of LeveL Markets, LLC, a leading off-exchange equity execution venue and operator of one of the largest Alternative Trading Systems (ATSs) in the United States. This acquisition marks a key milestone in Nasdaq's strategy to advance always-on markets infrastructure, as investors increasingly expect seamless access to market services across venues and asset classes.
LeveL Markets provides institutional investors with a scaled, deeply connected execution platform that processes hundreds of millions of shares each day across more than 7,000 symbols. The venue reaches more than 2,500 clients through more than 15 order and execution management system integrations, and its average daily volume grew 56 percent year-over-year in 2025 — making it the third-largest ATS in the United States by trading volume.
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