Stable, low-cost, low-latency continuous crossing platform designed to minimize market impact
LeveL Total Matched Volume
October 04, 2024
LeveL September 2024 Average Daily Volume
*Figures are double-counted to include all volume traded on LeveL ATS
Continuous Crossing:
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.
Contra-Party Customization:
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.
Market Orders:
Match at the opposite-side of the NBBO or better.
Limit Orders:
Match at their limit price or better.
Peg Orders:
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.