LeveL ATS announces the launch of its new order type SmartBlockSM - the latest edition to the LeveL suite of products.
SmartBlockSM delivers expanded choice and is an industry differentiator to customers by adding logic at the venue level with its ability to control the rate of execution if a stock moves away from the arrival price.
LeveL ATS, which launched in late 2006, has seen explosive growth in the past few years with over 50 customers connected and 70+ in various stages of connectivity. LeveL has maintained an ADV (average daily volume) of more than 100 million shares executed*, and averages over 7 billion shares of available liquidity covering over 6,400 large, mid, small and micro cap names.
Martin Hakker, EVP Marketing at Fidessa comments: "Fidessa is dedicated to providing innovative and cost effective ways for our clients to seek out liquidity while minimizing market impact and opportunity costs. LeveL ATS is already a strategic partner in this effort, providing our clients with access to a unique dark liquidity crossing venue. We are excited to build on this partnership by offering access to LeveL ATS's new SmartBlockSM order type through the Fidessa trading platform and Fidessa's BlueBox algorithms."
"This new order type gives customers another level of control when resting a large block," said Whit Conary, President of LeveL ATS. "SmartBlockSM further distinguishes LeveL ATS as an innovator of 'dark pool' trading solutions and a leading independent source of non-displayed liquidity."
"As a broker neutral OMS provider, it is in our best interest to provide our clients with the full complement of order types that our partners provide. We are proud to be one of LeveL's first vendors to certify with the new SmartBlockSM offering. Giving our clients the ability to control their executions in this current volatile marketplace is paramount. By offering this new level of control directly to our clients via SmartBlockSM, users are empowered with choice when directing their trades for execution," said Bob Williamson, SVP-Head of Sales at Mixit.