Nasdaq plans to acquire LeveL Markets in a move the exchange operator has framed as part of a broader push toward always-on markets, putting trading access, infrastructure, and market structure at the center of the deal.
Why Nasdaq wants LeveL Markets
Nasdaq entered into a definitive agreement to acquire LeveL Markets, according to Nasdaq’s investor relations announcement. The exchange operator positioned the transaction as a strategic step rather than a one-off deal. For related coverage, see Coinbase-Backed Flowdesk Secures Full Broker-Dealer License in Dubai.
Nasdaq had previously taken a minority stake in the LeveL alternative trading system, as LeveL Markets disclosed earlier. The full acquisition builds on that existing relationship. For related coverage, see SharpLink Q2 Net Loss Hits $394M as Ether Falls.
The deal continues a run of consolidation across trading platforms, echoing moves such as eToro’s agreement to buy TradeZero as venues look to broaden their reach. Specific price, timeline, and other terms were not detailed in the available reporting. For related coverage, see Bank of Russia Proposes Exchange Trading in Bitcoin, Ether, and USDT.
What always-on markets could mean
The framing of the deal centers on always-on markets, a phrase describing trading that runs closer to around the clock rather than within fixed exchange hours, as reported by The Wall Street Journal.
In practice, that concept touches trading availability, the underlying infrastructure that matches orders, and how broadly participants can access markets. It is closely tied to the industry conversation around extending or expanding trading hours.
How far continuous trading realistically extends remains uncertain, and the reporting does not confirm a specific schedule or launch date. The theme, however, is the stated rationale linking the acquisition to Nasdaq’s longer-term direction.
Why the deal matters for market structure
The always-on angle arrives as regulators weigh longer trading windows. The U.S. Securities and Exchange Commission announced a roundtable tied to preparations for 24-hour trading, signaling official attention to the same shift.
For traders and exchanges, an acquisition framed around continuous access raises questions about competition and the plumbing that supports extended sessions. It fits a wider pattern of infrastructure moves, including Nasdaq’s integration of TotalView with the Pyth data marketplace.
Market participants watching trading-hour expansion will likely track how the LeveL Markets deal feeds into that build-out, as covered by Cointelegraph. Any broader impact on market structure will depend on details that have not yet been confirmed.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always do your own research before making decisions.
