LeveL Markets has announced a connectivity partnership between its alternative trading system (ATS), Luminex, and Nasdaq Canada.
Steve Miele
The offering will allow clients using Luminex ATS to gain access to Nasdaq Canada’s CDX trading book, and is set to provide greater connections to Canadian marketplace liquidity.
Steve Miele, chief executive of LeveL Markets, said: “Our partnership with Nasdaq Canada underscores the growing demand for seamless integration with advanced trading ecosystems that help amplify customer trading strategies. Our intuitive and customisable execution experience has resonated globally, and we are excited with our expansion to allow Luminex customers to access the Canadian marketplace.
“This collaboration not only enhances equities access for the buy-side and sell-side participants but also marks an important step in our global growth strategy.”
The partnership is set to combine LeveL Markets’ trading application, used by the buy-side, with Nasdaq’s CXD trading book, with new trading types subject to regulatory approval.
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Dan Kessous, chief executive of Nasdaq Canada, said: ”Partnering with LeveL Markets allows us to deliver smarter access to liquidity through seamless technology integration. This collaboration strengthens Nasdaq Canada’s role in connecting global participants to our market and reinforces our commitment to advancing the competitiveness of Canada’s trading ecosystem.”
The partnership follows recent developments for Nasdaq, which is June connected blockchain-based technology, the Canton Network, to its Calypso platform, facilitating end-to-end margin and collateral workflows.
The firm said that the move highlighted how “integration of on-chain capabilities alongside existing institutional workflows enhances collateral mobility across all asset classes for institutional market participants.”