PureStream, which will offer brokers and their institutional clients greater bandwidth to get more liquidity faster, more cost-effectively and with greater security, is on target for a Q2 2021 launch, subject to U.S. regulatory approvals.

As part of the agreement, Nasdaq will fully host the PureStream ATS on its Nasdaq Execution Platform, including managing system operations, as well as portions of risk controls, venue surveillance, trade reporting and clearing facilitation. The technology enables exceptional flexibility and provides PureStream the ability to integrate new applications and functionalities as the company evolves and expands its platform.

“Our vision for creating this new institutional trading venue would not have been possible without our partnership with Nasdaq and leveraging its industry-leading market technology,” said Armando Diaz, CEO, PureStream Trading Technologies Inc. “As we launch our endeavor, time to market, infrastructure reliability, and scalability are critical components for success. We are confident that by utilizing Nasdaq’s execution platform provides us with an unparalleled advantage and best-in-class trading experience for our clients and partners.”

“By changing the basis of a match and virtualizing price discovery, PureStream’s unique business model is enabling algorithmic orders to search, find, and yield more liquidity faster without price impact,” said Valerie Bannert Thurner, Senior Vice President and Head of the Buy-Side and Sell-Side Solutions, Market Technology, Nasdaq. “In partnering with Nasdaq, PureStream will seamlessly leverage our market operating experience and technological scale to effectively manage its internal marketplace, further reduce expenses, and provide opportunity for more revenue generating activities as it launches its innovative market.”

Nasdaq's end-to-end, mission-critical technology powers more than 2,300 companies in 50 countries that span the world's financial industry, including capital markets infrastructure operators, market participants, banks and regulators.