Stable, low-cost, low-latency continuous crossing platform designed to minimize market impact
LeveL Total Matched Volume
February 27, 2024
LeveL January 2024 Average Daily Volume
*Figures are double-counted to include all volume traded on LeveL ATS
Seamless trading in a dark pool environment, minimizing information and market impact.
Bi-Lateral and Multilateral Trading:
Allows users to trade with specified single or multiple contra parties in a dedicated way within our platform.
Offers users the ability to customize eligible contra-parties through contra-party list building at either the Session level, MPID level, or Desk level.
We support Resting and IOC (immediate or cancel) Market, Limit and Peg order types.
Match at the opposite-side of the NBBO or better.
Match at their limit price or better.
A Conditional Order is an instruction to the ATS that the participant wants to interact with the order book on a conditional basis. A Conditional Order never executes; instead, when a Conditional Order would have otherwise matched with a contra party, the Conditional Order will be canceled by LeveL ATS and an invitation will be sent to the originating participant, inviting them to send a Firm-Up Response Order.
VWAP Full Day Order:
Anchors two or more orders and executes them at the volume-weighted average price (VWAP) based on reported trade prices in the market during the trading period.
VWAP Full Block Order:
Anchors two orders and executes them, fully or partially, at the volume-weighted average price (VWAP) based on the reported trade prices in the market during the Bespoke Anchor time frame. VWAP Block Orders leverage Conditional Order functionality.
VWAP Slice (trajectory cross):
Anchors two orders and executes them, fully or partially, at the volume-weighted average price (VWAP) based on the trade prices in the market, in randomized “slices” throughout the bespoke anchor time frame. VWAP Slice Orders leverage Conditional Order functionality.