LeveL ATS reported today its average daily volume was up 64% in the first quarter 2008 compared to the fourth quarter 2007. This translates to 41.9 million shares* per day vs. 25.5. April numbers continued to show growth with an average daily volume of 57.6 million shares*, up 25% from March 2008.
“Month after month, Level ATS has experienced exceptional growth with no sign of slowing down,” said Whit Conary, President of LeveL ATS. “Clients continue to be attracted to LeveL’s low cost, low latency and stable trading environment that delivers an average of more than one cent per share price improvement.”
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.
“LeveL ATS has emerged as a top destination because of its high speed and deep, diverse pool of liquidity,” continued Conary. “Dark pools will continue to grow in popularity because of their ability to bring real value to the industry.”
*Figures are double-counted, to include all volume traded on LeveL ATS (i.e., both sides of the transaction).