Jonathan Clark Named President of Luminex
Clark will be named president effective August 1.
Clark will report to Michael Cashel, the trading venue's interim CEO and a senior vice president at Fidelity, which owns 60 percent of Luminex. Upon Luminex receiving the required regulatory licenses, Clark will take over executive leadership responsibilities as CEO.
Clark is currently the co-head of equity trading in the Americas at BlackRock, another part owner of Luminex. Clark joined BlackRock after the firm's acquisition of Merrill Lynch Investment Management where he was a portfolio manager and derivatives specialist from 1999 to 2006.
Luminex was launched in January with the goal of reducing trading costs and eliminating the influence from high-frequency traders. It is set to go live in third quarter of 2015.
"Luminex is an innovative and advanced trading technology platform that is well-positioned to address the challenges of sourcing block liquidity and delivering lower costs to investment managers. I look forward to working to harness its potential," Clark said in a statement.
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