"LeveL has hit volume milestones quicker than many of the new platforms launched over the last several years. We expect continued growth as each of the 50 firms in the connectivity queue complete their requirements," said Whit Conary, president of LeveL ATS.

LeveL is a dark pool ATS, which provides non-displayed, off-exchange liquidity. Dark pools have continued to grow in popularity with the increase in electronic trading and associated challenges for institutional traders executing their block trades. LeveL is a sophisticated order-matching engine that uses highly customizable technology. It delivers an advanced tool kit including an open API for integration with algorithm suites and other types of automated trading.

"As markets continue to become more fragmented, the industry is looking for algorithmic trading to access dark liquidity pools and LeveL has provided a powerful solution as seen in its inflow activity," said Jose Marques, director at Credit Suisse. "LeveL brought immediate value to the market with the powerful combination of sophisticated technology, breadth of innovative solutions and liquidity within a unique ATS framework."

LeveL provides enhanced execution quality through a multitude of price improvement algorithms and anonymity for order handling and execution. LeveL offers a substantial reduction in participating firms' operating expenses with reduced transaction costs and increased automation of orders.