Fidessa, the trading technology provider, is giving its global network of over 300 brokers and 1800 buy-side firms access to LeveL ATS, a non-displayed pool of liquidity in the US equities market.
LeveL, which is independently run by a consortium of US broker-dealers, offers multi-tiered crossing opportunities to maximise liquidity and provide best execution while minimising information leakage and market impact.
Stephen R. Miele Jr., senior vice president and head of sales at LeveL ATS, said, “This partnership is a significant part of LeveL’s strategy to continue to build volume within its system.”
The dark pool has enjoyed a 50% increase in volume in both Q2 and Q3 this year, with a peak day of 170 million executed shares.
The Fidessa product suite provides integrated multi-asset trading, market data and connectivity solutions to over 22,000 users at around 600 clients around the world and serves over 85% of global, tier-one equity brokers.