Nasdaq agrees to acquire LeveL Markets, a major U.S. off-exchange trading venue, as it expands efforts to run “always-on” market infrastructure. LeveL Markets is described as the third-largest U.S. alternative trading system (ATS) by volume, and the deal is framed as part of Nasdaq’s broader push to extend and enhance trading availability.
According to outlets, LeveL Markets will be operated within a newly formed Nasdaq unit called Digital Liquidity Networks. Quartz and Cointelegraph both link the acquisition to Nasdaq’s strategy for longer trading hours and expanded digital capabilities. Cointelegraph adds that the move supports Nasdaq’s expansion into tokenized securities, positioning the purchased venue within a wider plan for how trading services evolve.
While the articles share the same core facts—Nasdaq’s acquisition of LeveL Markets and its role in an “always-on” approach—Cointelegraph emphasizes tokenized securities and longer trading hours, while Quartz focuses more specifically on the organizational structure under Digital Liquidity Networks.
