Luminex Announces Clark as CEO, Fourth Quarter Launch

Dark pool takes steps toward Q4 launch.

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Luminex corporate offices are based in Boston.

Buy-side owned dark pool Luminex Trading & Analytics has named Jonathon Clark as chief executive officer as the company gears up for launch in the fourth quarter of 2015.

Clark replaces interim CEO Michael Cashel and is joined by four new appointments to the executive team.

James Dolan, David Hagen, Brian Williamson and Daniel Consigli have joined Luminex as chief compliance officer, head of product, head of sales, and firm controller, respectively.

"With the appointments of Jon and his team, we have delivered on our commitment to bring independent leadership to Luminex," says Kevin Cronin, Luminex board member and global head of trading at Invesco Advisers. "We look forward to the opportunity to provide the buy side with an efficient and low-cost trading platform as we progress toward launch."

Luminex was launched in January this year with the objective of reducing trading costs and eradicating the influence from high-frequency traders. The platform is backed by nine buy-side firms, including Fidelity, Invesco and BlackRock, and had originally been scheduled to go live in the third quarter of 2015.

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