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 Jonathan A. Clark has been named President of Luminex effective August 1, 2015. He will report to Michael S. Cashel, interim-CEO of Luminex. Mr. Clark is expected to assume full executive leadership responsibilities as CEO of Luminex, upon receipt of required regulatory licenses later this year.
Mr. Clark, has over 20 years of trading and portfolio management experience, including expertise in risk management, compliance and efficient trade execution. He currently serves as Co-Head of Equity Trading Americas at BlackRock, Inc. Prior to his current role,, Mr. Clark held various senior portfolio management roles at BlackRock. Mr. Clark joined BlackRock upon the company’s acquisition of Merrill Lynch Investment Management where he was a portfolio manager and derivatives specialist from 1999 to 2006. Prior to joining Merrill Lynch, Mr. Clark co-managed the trading desk at MLC Investments. Earlier in his career, Mr. Clark held various trading roles at Bankers Trust and Salomon Brothers.
Commenting on the announcement, Mr. Cashel said, “Jon is a talented and proven leader who brings an ideal combination of skills and experience to Luminex. Jon’s unique insights, proven track record in building efficient trading operations and perspective on the challenges facing participants in today’s markets are a perfect fit for Luminex. We are confident under his leadership, Luminex will become an attractive option for investment managers, delivering an efficient, competitively priced and more transparent trading experience.”
“I have great admiration for the vision and innovation behind Luminex and I am honored to have the opportunity to join the company’s leadership team," said Mr. Clark. “Luminex is an innovative and advanced trading technology platform that is well-positioned to address the challenges of sourcing block liquidity and delivering lower costs to investment managers. I look forward to working to harness its potential.”
Luminex was launched in January 2015 as a new, independent trading venue open to investment managers with a long term focus and with a desire to trade large blocks of stock with other investment managers. The company will operate using patent-pending trading technology to create a robust platform with transparent trading rules and protocols that further minimize information leakage and protect anonymity of customer trades. Institutional investors that use the venue will also have full transparency into the platform’s user-base – offering a complete roster of pool participants. Through Luminex, investment managers will have the ability to transact with one another in a lower-cost trading environment creating the opportunity to pass along the benefits of those lower costs to their clients in the form of potential improvements in portfolio performance. Luminex is expected to begin trading late in the third quarter of 2015.
Jonathan A. Clark Biography
Jonathan A. Clark has extensive trading, compliance, risk management and portfolio management experience and currently serves as Managing Director and Co-Head of Equity Trading Americas at BlackRock, Inc. Prior to his current role, Mr. Clark served as Vice President, Portfolio Manager and Chief Compliance Officer for a number of BlackRock funds. Mr. Clark joined BlackRock upon its acquisition of Merrill Lynch Investment Management (MLIM) where he served as a Vice President from 1999 to 2006. During his time at MLIM, Mr. Clark was part of the quantitative team where he served as a Portfolio Manager and Derivatives Specialist for MLIM's quantitative funds and structured investments. Mr. Clark was also responsible for developing and implementing strategies for portfolios that utilized derivatives and structured investments. Prior to joining MLIM, Mr. Clark co-managed the trading desk at MLC Investments. Additionally, Mr. Clark spent four years at Bankers Trust with the global investment management group and began his career at Salomon Brothers. Mr. Clark earned a B.S. degree in Finance from Lehigh University.
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