(Bloomberg) -- A group of nine fund managers is planning to start a dark pool dedicated to large stock trades later this year, according to a person with knowledge of the matter.

The new market -- named Luminex -- will admit asset managers who bet on prices to increase, said a person familiar with the initiative who asked not to be identified because the project hasn’t been made public. Fidelity Investments began to discuss setting up the dark pool more than a year ago, the person said.

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