Luminex Trading & Analytics, a buy side-owned trading venue delivering block executions, has added a conditional order type to its unique, buy side-only alternative trading system (ATS). This upgrade has helped make January 2018 Luminex’s best-ever month by volume.
Luminex’s trading platform now supports negotiable, firm and conditional orders. The addition of conditional orders is designed to make trading on Luminex more efficient for many buy side workflows, and should allow subscribers to interact with more block orders. Negotiable and firm orders continue to be available and will help to prevent “fall downs”, negotiations in which one party backs out despite each entering with an intention to trade. Luminex expects the addition of conditional orders to benefit all of its current 185 subscribers, regardless of the order types they choose to use.
“During our first two years of operation, numerous clients expressed to us that a conditional order type would allow them to better and more fully integrate Luminex into their workflows,” says Jonathan Clark (pictured), CEO of Luminex. “Initiatives at Luminex are driven by our desire to do what’s best for our clients and the wider buy side community. Our enhanced platform remains true to our founding mission to provide subscribers with clean, natural large-block liquidity at disruptively low rates.”
