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 celebrated the platform’s one-year anniversary. Over the past twelve months, Luminex has grown its investment manager subscriber base from 84 clients at launch to over 150 clients that represent a reported $11 trillion in US assets under management1. Total volume since inception exceeds 733 million shares, with an average trade size of 30,000 shares. In that same time, Luminex’s disruptively low commission rate of 25 mill base rate of execution – which is seen as the lowest standard rate in the block trading ATS space – has helped its subscribers generate nearly $130 million in retained alpha, equivalent to 37bps2.
Jonathan A. Clark, CEO of Luminex, commented, “Today is a great day, not just for Luminex, but for all our clients that have chosen to be a part of something truly unique and innovative, as we continue to make strides toward changing a segment of our industry that still has meaningful opportunities for improvement. Our buy side utility is off to a strong start because our clients made the decision to be a part of a new kind of ATS, free from common issues like information leakage, lack of transparency, low average trade size and higher fees. We are delighted with our performance in our first year and with the positive reception from our subscribers. In addition, the support and commitment from our Board of Directors and staff has been tremendous. As we enter year two, we are very excited about the growth potential we see in front of us, particularly in a regulatory environment so focused on transparency, best execution and fiduciary responsibility.”
Abigail Johnson, President and CEO of Fidelity Investments, one of the nine founding buy side members of Luminex, said, “As a concept, Luminex was created to facilitate a more efficient trading experience for the buy side. And after only one year, Luminex is doing exactly what it set out to do – providing a transparent platform for the buy side to trade large blocks at a lower cost and preserve alpha for fund shareholders. We’re very pleased with Luminex’s solid start, and look forward to supporting its progress in the years ahead.”
Luminex serves a community of long-term focused asset managers, including mutual funds and hedge funds, offering lower trading costs and enhanced transparency of trading protocols. The company aims to deliver improved trading performance to clients with a long-term focus who seek to trade large blocks of stock with other investment managers. Luminex is regularly involved in the top daily securities trades on the ATS, participating in a top five print 42% of the time and in the top print of the day 12% of the time3. Earlier in 2016, Luminex was named Best New Trading Venue by Markets Media at the fourth-annual Markets Choice Awards.
About Luminex
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.
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Luminex Trading & Analytics LLC, Member FINRA, SIPC
Luminex® is a registered service mark of Luminex Trading & Analytics LLC
1 Figure as of October 31, 2016, based on the Reported Total Assets figure as sourced from Ipreo Holdings LLC. The Reported Total Asset figure is the sum of the most recent Reported Total Equity Holdings of each Institution/Mutual Fund.
2 According to internal Luminex Transaction Cost Analysis (TCA).
3 As of October 31, 2016.