Fidessa group plc, the provider of trading systems, market data and connectivity, today announced its connectivity to LeveL ATS, the US equity dark pool platform created by a consortium of broker-dealers.
This agreement enables clients on Fidessas global network of over 310 brokers and 1,800 buy-side firms to access LeveL ATS, one of the fastest growing non-displayed pools of liquidity in the US equities markets.
LeveLs innovative dark pool structure maximizes liquidity by offering multi-tiered crossing opportunities to provide best execution while minimizing information leakage and market impact. Driven by low-cost pricing and a low latency, highly stable platform, LeveL has become a source for non-displayed liquidity. LeveL has seen a 50% increase in volume in both Q2 and Q3 of 2008, with a peak day of 170 million executed shares.
Our partnership with Fidessa creates a direct link between one of the fast-growing pools of liquidity in the US markets and one of the largest global networks of equity traders, says Stephen R. Miele Jr., senior vice president and head of sales at LeveL ATS. This partnership is a significant part of LeveLs strategy to continue to build volume within its system.
As markets evolve and liquidity becomes increasingly fragmented, it is critical for traders to consistently access liquidity where it resides, says Martin Hakker, EVP marketing at Fidessa. Fidessa is proud to be at the forefront of providing this access to its clients, and we remain committed to providing them with the broadest selection of liquidity venues on a global basis.
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