Luminex Trading & Analytics LLC, a US-based buy-side owned trading solutions provider recently revealed in an announcement in its official LinkedIn account stating that it has hired new executives to bolster its sales and tech team.
The firm is popularly known for its efficient, low-cost block execution service. As per the statement released by the firm, it has hired three financial & technology veterans to cope up with its increasing demand for its platform from its clients primarily from firms made up of investment management firms.
The three executives who are joining the firm are Mr. Joshua Reed who takes on the role of Sales & Relationship Manager, Mr. Joshua Opper who takes on the role of Director of Infrastructure and Ms. Robin Burr who joins the firm as Software Engineer. All three incoming executives are veterans with decades of experience in their area of expertise and a proven track record of successful tenure at past firms they have served at so far.
Luminex has grown steadily since its launch in November of 2015 with a steadily increasing client base as the firm has managed to consistently deliver on its promise for delivering low cot block trading with minimal information leakage. As per FINRA data for September 2019, the latest month for which data is available, the firm saw an average natural block trade size of 47,043 shares, placing it among the leaders in FINRA’s 10k block trading category 1.
At the start of this year, the firm announced the rollout of its upgraded interface dubbed “Luminex 2.0” which simplifies workflow and creates a more intuitive overall experience. Since the debut of its new interface, the firm has seen a sharp spike in demand for the platform from the community attracting new potential participants and interested parties while existing clients have also begun demanding for further new features and functionalities to be added at earliest possible.
Data from the firm for the month of October shows that its platform saw nearly 166 million shares traded making it one of the firm’s five best months since its launch which along with FINRA data shows the firm’s steady growth till date and acts as an indicator for the increasing demand for its products.
Commenting on the hiring of new executives, Jonathan Clark – Chief Executive Officer of Luminex said, “Our ability to continually invest in our platform speaks volumes about the commitment that our buy-side community has made to trading on Luminex. Our participants are engaged because they want this to work: a trading utility dedicated to helping investment managers exchange blocks safely and at a low cost. Our internal team’s culture mirrors the commitment of our wider community and we’re thrilled to have Joshua Reed, Joshua Opper, and Robin Burr coming aboard”.
Speaking on the same topic, David Hagen – Head of Product at Luminex added, “Every upgrade to our platform is client-driven, from the features we continue to add down to the specific appearance of the GUI. Joshua Opper and Robin Burr are coming to us with proven track records of getting technology to do what users want and need in order to make their own work as effective as possible”.