BOSTON--(BUSINESS WIRE)--Luminex Trading & Analytics LLC, a buy-side owned trading venue which seeks to deliver the benefits of low cost and more efficient trading, today announced that it has successfully commenced operations and has completed its first day of trading.
With 84 investment management firms currently subscribed to the platform, Luminex serves a community of investor-focused asset managers which collectively represents approximately 68% of mutual fund and ETF equity assets under management in the United States1. Luminex offers lower trading costs and enhanced transparency of trading protocols and aims to deliver improved portfolio performance to clients with a long-term focus that seek to trade large blocks of stock with other investment managers.
Jonathan A. Clark, CEO of Luminex, commented, “Today represents a significant milestone for Luminex, its clients and the marketplace as a whole as our plans to provide a transparent, low cost, more efficient trading platform become a reality. By addressing the challenges of sourcing block liquidity and embracing a transparency-driven culture, we will help our clients retain alpha by lowering trading costs while protecting their information. Our roster of subscribers is a testament to the compelling proposition offered by our platform. We appreciate their support and remain committed to meeting their needs.”
Luminex Trading & Analytics LLC is an independent trading venue that seeks to offer low-cost trading and superior execution quality with minimal information leakage by interacting only with venue-approved participants. Luminex’s collaborative approach intends to improve trust, liquidity, and control, helping buy-side traders execute large block trades with little market impact. The company is guided by a board of directors which includes one representative of each of the nine leading investment managers of the consortium that formed Luminex – BNY Mellon, BlackRock, Capital Group, Fidelity Investments, Invesco, J.P. Morgan Asset Management, MFS Investment Management, State Street Global Advisors, and T. Rowe Price. For more information, visit www.luminextrading.com.
Luminex Trading & Analytics LLC, Member FINRA, SIPC
|1 Source: Strategic Insight Simfund/DI Desktop. As of 08/15/15|