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Luminex shows early promise with exclusive model

Buyside-only block trading platform matched some big trades during its first month of business

Trading screen
Trading screen Photo: iStockPhoto

Luminex, a US trading venue accessible only by asset managers to buy and sell large blocks of stock, has disproved critics of such platforms by matching some big trades during its first month of business.

The Boston-based platform, owned by nine money managers including Fidelity, BlackRock and Invesco, launched officially on November 3, 2015 and is already reporting higher average order sizes than other venues.

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