Reports in the Financial Times and the Wall Street Journal say Fidelity is the 60% shareholder in Luminex Trading & Analytics, a new company that plans to launch a private exchange on which the fund managers can conduct their largest share trades. Once they have gained US regulatory approval the fund managers hope to launch the new venue in the second half of the year. They believe it could help them cut costs and enable them to thwart high-frequency traders who use algorithms to spot when big trades are taking place and exploit that information to make small profits at the expense of other investors.

http://citywire.co.uk/money/us-fund-groups-plan-luminex-dark-pool-platform/a793846