Open Architecture Online Platform for Structured Products and Annuities

Open Architecture Online Platform for Structured Products and Annuities

The FINANCIAL -- Luma Financial Technologies, a new venture formed by co-investors Navian Capital, Bank of America Merrill Lynch and Morgan Stanley, announces the launch of an independent, multi-issuer electronic platform for structured products and annuities.

Luma is the next evolution of Navian Capital’s award-winning, fully customizable online platform that was developed for its customers and refined in-house over the past seven years. Luma will further improve upon and extend market-leading capabilities in workflow automation, post-trade position monitoring, and comprehensive education, training and compliance management. The platform will now be available to any distributor, thus helping to grow the market for structured products and annuities.

Tim Bonacci, President and CEO of Luma, commented: “With partnership and support from BofA Merrill and Morgan Stanley, we are confident Luma will become the market-leading platform with scale and seamless customization for any distribution firm.’’

Nikki Tippins, Managing Director at Morgan Stanley, said: ``Morgan Stanley is excited about the potential impact Luma will have on the structured products and annuities market. The platform can be tailored to any firms’ workflow and business needs providing ease of access to distributors across the marketplace.”

Henry Flowers, Managing Director at BofA Merrill, is encouraged by the potential for greater efficiency and transparency enabled by Luma. “We are looking to optimize and simplify how structured products and annuities are created, distributed and managed over the entire lifecycle for their clients. Luma does this exceptionally well and we look forward to working with the team to further advance this market.”