What Is Luminex?
Luminex Trading & Analytics combines innovative and advanced trading technology with sophisticated analytics and functionality designed to enable today’s buy-side trader to more efficiently source block liquidity.
Efficiency. Transparency. Control.
It’s what buy-side traders want. It’s what Luminex strives to deliver.
Block Discovery
Innovative trading technology helps prevent fall downs by combining required minimum block quantities and the option to negotiate for increased order size.
Controlled Trading
Transparent trading rules and protocols help protect trade anonymity and minimize information leakage.
Competitive Pricing
Luminex reinvests profits to improve technology and lower trading costs, creating an opportunity to pass on savings and potential improved portfolio performance to clients.
FEATURE-RICH BLOCK TRADING TECHNOLOGY
Real change starts with more innovative technology. Luminex’s key capabilities include negotiable orders, order state management, and analytic tools. Here’s what our system can help buy-side firms do:
WHO'S BEHIND IT?
Organized as a consortium, Luminex Trading & Analytics is focused on executing large block-size orders with as little market impact as possible while looking out for the best interest of clients.
ORDER TYPES
Luminex orders are pegged, for matching purposes, to the midpoint of the NBBO. A subscriber may designate a limit price for each order. Orders must have a time-in-force of either IOC or Day. There are three quantities associated with a Luminex order:
Luminex offers subscribers additional order instructions, including:
Minimum Execution Quantity
The minimum contra order size against which the subscriber's order can interact.
Anti-Internalization
Prevents the subscriber from crossing against a contra order from their same account.
Order State Management
Allows a subscriber to prevent crossing against a contra order unless the market meets client-configured conditions.
Help Prevent Fall Downs
Negotiable orders enable pristine large block discovery.
Hybrid Order produces a block-sized execution with every match, plus the option to negotiate for more size
20 Second Size Up allows traders to consider larger block than initially matched
One Print with execution price weighted near midpoint at the time of initial match
Negotiation Pop Up
Control When You Need It
Order state management & alerts work on your behalf.
Monitors and analyzes market conditions and lets you set protective bands to trigger alerts
Trader-friendly blotter displays order state details and relevant analytics
Automated Order Protection ensures matches only occur under trader-specified market conditions
Alerts traders of negotiation opportunities and verifies when their orders are eligible for matching based on preset conditions
Luminex Mini Blotter
Our Management Team
JONATHAN A.
CLARK
Chief Executive Officer
Prior to joining Luminex Trading & Analytics LLC, Jonathan was the Managing Director…
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Chief Executive Officer
JONATHAN A. CLARK
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INDUSTRY EXPERIENCE / SPECIALIZATION
Prior to joining Luminex Trading & Analytics LLC, Jonathan was the Managing Director, Co–Head of Equity Trading – Americas at BlackRock, Inc. He was responsible for all aspects of trade execution, including broker selection and monitoring. In 2009, Jonathan was a member of BlackRock’s Quantitative Investments team and was responsible for derivatives overlay and strategy. Jonathan’s service with BlackRock dates back to 1999, including his years with Merrill Lynch Investment Managers (MLIM), which merged with BlackRock in 2006. At MLIM, he was a member of the Quantitative Investments team, responsible for managing arbitrage and derivative strategies for enhanced and structured portfolios. He also managed a commodities futures portfolio.
PREVIOUS POSITIONS
Prior to joining MLIM in 1999, Jonathan was a trader at MLC Investments, a hedge fund. In addition to supporting the fund’s diverse product mix, he managed the firm’s option hedging and arbitrage strategies. Previously, he spent four years at Bankers Trust with the Global Investment Management group.
EDUCATION AND CREDENTIALS
Jonathan earned a BS degree in Finance from Lehigh University in 1991. He currently holds Series 7, 24, 63 and 99 licenses.
JAMES C.
DOLAN
Chief Compliance Officer
Prior to joining Luminex Trading & Analytics LLC, Jim was Vice President of Compliance…
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Chief Compliance Officer
JAMES C. DOLAN
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INDUSTRY EXPERIENCE / SPECIALIZATION
Prior to joining Luminex Trading & Analytics LLC, Jim was Vice President of Compliance for Fidelity Institutional, supporting the Prime Brokerage Services, Securities Finance, Fixed Income, International Equity, and Forex businesses of Fidelity Capital Markets (FCM). At Fidelity since 2007, Jim previously supported FCM’s Domestic Equity and Electronic Trading desks, including FCM’s CrossStream Alternative Trading System.
PREVIOUS POSITIONS
Prior to joining Fidelity, Jim worked for nearly nineteen years in various capacities at NASD, now known as FINRA, running its Insider Trading investigations program among other responsibilities.
EDUCATION AND CREDENTIALS
Jim earned a BA degree in Political Science from The Pennsylvania State University and a Law degree from The Catholic University of America in Washington, DC. Jim is a member of the Maryland Bar.
DAVID
HAGEN
Head of Product
Prior to joining Luminex Trading & Analytics LLC, David was a Director at Pico Quantitative…
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Head of Product
DAVID HAGEN
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INDUSTRY EXPERIENCE / SPECIALIZATION
Prior to joining Luminex Trading & Analytics LLC, David was a Director at Pico Quantitative Trading, focused on expanding Pico’s services to the Institutional trading community.
PREVIOUS POSITIONS
Prior to Pico, David spent 9 years at Linedata as both Director of Strategic Accounts & Trading and VP Global Trading Technologies, where he was responsible for spearheading the vision, strategy and execution of the Longview Trading System, Longview Live and Trader+ to provide next-generation solutions for the asset management community.
In addition David spent nearly 14 years on the floor of the Boston Stock Exchange, starting as a runner and a clerk, David went on to become a specialist and Head Trader.
EDUCATION AND CREDENTIALS
David earned a BA degree from Gordon College, graduating with a major in Economics. He is a current Board Member of the Boston Security Trader’s Association and has been published and quoted often in industry media. He currently holds Series 7, 24, 57, 63 and 99 licenses.
BRIAN
WILLIAMSON
Head of Sales
Prior to joining Luminex Trading & Analytics LLC, Brian was a Senior Global Relationship…
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Head of Sales
BRIAN WILLIAMSON
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INDUSTRY EXPERIENCE / SPECIALIZATION
Prior to joining Luminex Trading & Analytics LLC, Brian was a Senior Global Relationship Manager for Liquidnet. Brian’s primary role was to create account plans to grow existing revenue with members whose trading desks reside across the globe and analyze business risk within the new business pipeline. In addition, Brian presented client-focused solutions for members designed to help improve efficiency and lower the cost of equity trading. He was a member of the Transparency Working Group, whose primary objective was to vet proper disclosures.
PREVIOUS POSITIONS
Prior to Liquidnet, Brian was with The Boston Company, Asset Management as a Vice President in equity trading, responsible for executing trades within several different investment strategies including the small cap growth fund, the large cap core fund, and the microcap hedge fund. He was also responsible for managing program trading and implicit/explicit trading costs for the firm. Prior to equity trading, Brian spent the early portion of his career at The Boston Company in fund accounting, private wealth management, and equity operations.
EDUCATION AND CREDENTIALS
Brian earned a BA degree from Trinity College, Hartford CT, graduating with a major in Political Science, and minor degrees in both French and Legal Studies. He is a member of the Boston Security Trader’s Association. He currently holds Series 7, 24, 63 and 99 licenses.
Luminex Trading & Analytics Owners
Our owners include 9 of the largest and most trusted investment management firms in the world. Collectively, they manage 48% of U.S. Fund Assets. Source: Strategic Insight Simfund/FI Desktop as of 12/31/2015
Our Board
Paul Whitehead
Managing Director, Head of Americas Equity Trading
BlackRock Financial Management, Inc.
Peter Stutsman
Global Head of Equity Trading
The Capital Group
David Lane
Head of Global Equity Trading
FMR LLC
Nathaniel Evarts
Managing Director and Head of Trading, Americas
State Street Global Advisors
Mehmet Kinak
Global Head of Systematic Trading.
T.Rowe Price
