BOSTON, June 19, 2018 (GLOBE NEWSWIRE) -- Luminex Trading & Analytics LLC, a buy side-owned trading venue delivering efficient, low-cost block executions, today announced that May 2018 was its most successful month to date, as measured by total shares traded within the venue. In addition, in the month of April 2018, Luminex was again among the leaders in the alternative trading system (ATS) industry1 for average trade size across all three block trading categories that FINRA (Financial Industry Regulatory Authority) tracks, a position Luminex has held since October 2016 when FINRA first began reporting ATS block data.
In May 2018, Luminex broke its own records for:
- Monthly shares traded, with over 187M shares traded (double counted);
- Notional value traded of just over $10B; and
- Subscriber firms completing a trade on the venue.
In April 2018, the most recent month for which data is available, Luminex was among the top ATS venues1 for average trade size in FINRA’s 10K+ Shares Category and its 10K+ and $200K+ Category, with 49.8K and 51.1K average trade size respectively.
Luminex’s record volume in May was driven by a confluence of factors including the venue’s 2018 rollout of a conditional order capacity for blotter scrape and sweep, augmenting its existing negotiable and firm order types. The addition of conditional orders makes trading on Luminex more efficient for many buy-side workflows, and allows subscribers to interact with more block orders.
“We’re thrilled to see the buy-side community increasing their use of Luminex’s unique model for clean, natural large-block liquidity at disruptively low rates,” said Jonathan Clark, CEO of Luminex. “We responded to our subscribers by including a new order type, and they are responding in turn with more order flow than ever, resulting in new record volumes, fill rates and average trade sizes on our platform.”
Luminex is an SEC-registered ATS whose participants are buy-side firms committed to fostering a clean, safe and transparent trading environment. Designed to provide buy-side institutional investors with more efficient trading of large blocks of shares, Luminex is a completely anonymous, non-quoted trading venue that helps subscribers inexpensively source liquidity and reduce market impact.
About LuminexLuminex 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 was formed by and is guided by a consortium of nine leading investment managers – 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
157 Seaport Boulevard, Suite P-3
Boston, MA 02210
Member, FINRA/SIPC
1 OTC Transparency data is provided via http://www.finra.org/OTC-Transparency and is copyrighted by FINRA 2018. Data reported is as of June 4, 2018.