Charles River Development has certified Luminex Trading & Analytics LLC as a sweep partner for the Charles River Investment Management Solution (Charles River IMS). The integrated offering enables the firms’ mutual clients to improve access to liquidity while reducing trading costs and minimizing market impact.
Luminex subscribers using Charles River’s multi-asset Order and Execution Management System (OEMS) now have automatic access to Luminex’s pool of buy side only block liquidity. With the integration, traders can work more efficiently by relying on Luminex to sweep their trade blotter and continuously match and execute trades. In the most recent FINRA block trading dataLuminex was the leading ATS with an average trade size greater than 50,000 shares in two of the block-size categories.
Jonathan A. Clark, CEO, Luminex, commented, “Integrating with Charles River IMS helps our subscribers find block liquidity more efficiently while reducing trading costs, eliminating information leakage and ultimately retaining alpha for the end investor. Our roster of mutual clients, including some of the world’s largest asset managers, is a testament to the compelling value offered by our platform and synergy with Charles River’s offering.”
“Based on significant demand from our clients, we are pleased to announce our streamlined integration with Luminex,” said Peter Lambertus, CEO, Charles River. “This further automates our clients’ ability to source liquidity directly in our OEMS.”
Luminex Trading & Analytics LLC is an independent trading venue that seeks to offer low-cost trading and superior execution quality with minimal information leakage by interacting only with venue-approved participants. Luminex’s collaborative approach intends to improve trust, liquidity, and control, helping buy-side traders execute large block trades with little market impact. The company was formed by and is guided by a consortium of nine leading investment managers – BNY Mellon, BlackRock, Capital Group, Fidelity Investments, Invesco, J.P. Morgan Asset Management, MFS Investment Management, State Street Global Advisors, and T. Rowe Price.
Charles River enables sound and efficient investing across all asset classes. Over 350 firms worldwide use Charles River IMS to manage more than US$25 Trillion in assets in the institutional investment, wealth management and hedge fund industries. Our Software as a Service-based solution automates and simplifies investment management on a single platform – from portfolio decision support and risk management through trading and post-trade settlement, with integrated risk and compliance throughout. Headquartered in Burlington, Massachusetts, we support clients globally with more than 750 employees in 11 regional offices.