Linedata Offers Access to Additional Dark Pool
Traders Magazine Online News, September 14, 2011
Linedata is now offering its clients access to liquidity from the dark book trading platform LeveL ATS.
All front-office users of Linedata Lynx will now be able to access LeveL ATS's liquidity, giving Linedata clients access to a total of eight dark pools and 33 different algos.
Linedata completed certification testing with its interface and began offering access in August.
Dan Pagano, vice president of strategic alliances at Linedata, said that any third-party product or venue that would be of interest to buyside clients is a good fit for a partnership.
"LeveL was interesting because they've got some of the best pools of liquidity from more of a small and mid-cap name perspective," Pagano said.
LeveL ATS executed an average of 126.6 million shares a day last month across more than 4,000 different symbols. It prides itself on its efforts to minimize information leakage and market impact.
Steve Miele, head of sales at LeveL ATS, said the deal with Linedata will enable the broker-dealer community to provide differentiated liquidity to their buyside client base in a manner that enhances the existing trading process.
In addition to LeveL ATS, Linedata also provides its clients with access to AQUA, BIDS, BlockCross, BlockCross Europe, Channel, Liquidnet and Pipeline.
Linedata has 700 clients operating in 50 countries. This summer, it released a new OMS/EMS hybrid platform known as Trader+.
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