Highlights

  • We had record volume for shares traded.

  • We broke 27 other firm records, including number of firms getting a hit.

  • We once again were best-in-class for average trade size at nearly 50,000 shares according to April 2018 published FINRA Data.

  • We held our 2nd annual client conference in NYC. Great turnout. Lots of new faces. Active participation. Great buy side conversations. We also previewed version 2.0 of the Luminex UI.

Introduction

Luminex and our clients just wrapped up an amazing month. We had record volume, broke 27 other firm records, were once again best-in-class for Average Trade Size according to April FINRA data and held our 2nd annual client conference in NYC where we had awesome turnout, lots of new faces, very active participation and great buy side conversations. We also previewed version 2.0 of the Luminex UI.

Let’s start with a few more details about the month we had.

  • Did we mention that we broke 28 firm records in May, including the biggies such as shares traded, notional traded and symbol hit rate.
  • April FINRA Data:  Published this on June 4th, the recent data confirmed that Luminex was once again best-in-class for average trade size at nearly 50,000 shares.
  • Volume: The record Luminex volume in May was driven by a confluence of factors, most significant being our efforts over the past several months to integrate conditional blotter scrape/sweeps for all of our customers. It made a huge difference. We still have some onboarding to go, but the new scrape/sweep accounts crushed it with Luminex last month.
  • Our Second Annual Conference in NYC was a huge success.  Awesome turnout.  Lots of new faces this year.  Active participation.  Great buy side conversations.

Mariel Beasley from the Duke University Center for Advanced Hindsight was the highlight.  She explained about the science of behavior and coached us on how to better structure our decision making processes to produce better short and long-term outcomes.

The data says that 40-45% of our behaviors are “automatic” (“we all like to think we are more like Spock, but we are really a lot more like Homer Simpson”). It’s important to put in place “decision architecture” that will automate the analytical frameworks we truly desire but rarely are able to effectuate.  There were a lot a applicable “exercise and good eating” examples we all related to. For example, if a cafeteria wants people to eat better, the design of how the food is laid out is critical to achieving that goal.  Another example would be how doctors can design a rehab plan specifically to get a person back on their feet.

She also instructed the group that we need to make decisions easier for people.  She provided helpful tips about how to keep people motivated as well, using at one point a great Zig Ziglar line: “Motivation doesn’t last, but neither does bathing, that’s why we do it everyday.”  JC liked that very much.

In the break out discussions, we identified specific behaviors we’d want to impact — for example, how to develop a knowledgeable and independent back-up on the desk or how to get PMs to review and understand the TCA reports on their trades to drive better executions.

  • Those at the conference were also given a preview of Luminex 2.0, our refreshed UI due out this summer, by Dave Hagen. The changes are based on the workflow feedback we’ve received from many of you over the past 2+ years, which is always helpful and appreciated.

New Records in May 2018:

 

 

FINRA ATS Block Data — Average Trade Size:

 

 

 

Various & Sundry:

  • In case you’ve been away, we’re pleased to report that we were named Best Dark Pool at the recent Markets Media awards, the second consecutive year that we won the category. Obviously it’s an honor to be recognized like that, and we think reflective of what the industry thinks of the community we’re working to build.
  • Finally, it’s been a big few weeks for JC on the personal publicity front. He was named one of the top 40 most influential executives in the trading technology space by Institutional Investor, and followed that up a few weeks later with an appearance at SIFMA’s Equity Market Structure Conference.

 

As always, if you have any questions, please call or email the Luminex Team.

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

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