Highlights

  • Once again we flirted with 200 million monthly shares traded

  • Last month Luminex clients had a 50% chance of being a Top 5 print of the day

July marked our second-best month ever—once again we flirted with the  200 million monthly shares traded milestone*.  In July, Luminex clients had a 50% chance of being a top 5 print on the day.  Who said people don’t want to trade blocks? More and more users are receiving fills (second best month for client fills ever) which is leading to more positive experiences. One of our non-board traders agrees. We have definitely seen an uptick in fills over the past two quarters and it appears the community is finally resting more orders there for longer.   Over 75% of our fills are top 5% blocks for that day, so Luminex continues to be one of the most proficient conditional venues for us and we rank them highly amongst our block trading tools.  We would like to see the rest of the client base integrate further.”

A key development of late has been the improvement of our pop up.  To our client’s point above, our hope is that more members of the community will wait to choose where they want to trade, versus clicking the first pop up or all the pop ups in quick succession.
While we recognize that speed is a factor,  we don’t believe it’s the key factor. We feel that the buy side community wins when we win — and we feel that we win on price, quote movement, size of our blocks and cleanliness of our pool.

 

Luminex remains focused on order growth and limiting fall-downs. For clients who have been less engaged, our volume story should help bring them back into the fold.  As for fall-downs, Sales is quick to block users who clearly are not sizing up, and some Tier 1 firms have opted-in to blocking Tier 3 traders.

 

While we may lose some trades to other systems, we want to protect the integrity of the pool. As we’ve believed since Day One, it’s worth losing a match or two if things stay cleaner here.

Finally, blotter sweep and scrape integrations continue — please let Sales know if you are interested in converting over from pick and choose.

LUMINEX IN THE NEWS:

  • July 19: Luminex Chief Compliance Officer Jim Dolan was quoted by S&P Global Market Intelligence in an article assessing the SEC’s new rules for dark pools, “SEC rule would push secretive bank-run trading venues into spotlight”

 

*Shares traded, double counted

Luminex Sales
sales@luminextrading.com
Luminex Trading & Analytics LLC

For investment professional or institutional investor use only. Not authorized for distribution to the public as sales material.

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