Nasdaq completes acquisition of LeveL Markets
NDAQ•Nasdaq completed its acquisition of LeveL Markets, adding an off-exchange equity execution platform that ranked as the third-largest US alternative trading system by trading volume.
1. Platform scale and plans
LeveL Markets’ average daily volume rose 56% in 2025. The platform processes hundreds of millions of shares daily across more than 7,000 symbols and serves more than 2,500 clients. It will retain dedicated management within Nasdaq’s Digital Liquidity Networks organization, with investment planned in its technology and capabilities. Nasdaq acquired a minority stake in LeveL Markets in August 2021.
