Nasdaq agrees to buy LeveL Markets
NDAQ•Nasdaq to buy LeveL Markets to expand always-on markets strategy
Nasdaq agreed to buy LeveL Markets, a major U.S. off-exchange equities execution venue, to expand its always-on markets strategy.
LeveL runs an Alternative Trading System processing hundreds of millions of shares daily, connecting more than 2,500 clients, ranking third by U.S. ATS volume.
LeveL will operate within Nasdaq’s new Digital Liquidity Networks unit, led by Roland Chai, retaining a dedicated management team.
Nikolaj Kosakewitsch was named head of European Market Services, succeeding Chai; a new president for Nasdaq Copenhagen will be named later.
Financial terms were not disclosed; closing is expected once customary conditions and approvals are met.
