01 / LUMINARY
Open.
AT THE UNDERLYING MARKET OPEN
LUMINARYTHE CALENDAR / A SHARED MOMENT
The rhythm
Open. Close. Midnight. A daily ritual for liquidity.
A published schedule turns scattered intent into a shared moment. Underlying market hours guide the opening and closing calls; 00:00 UTC adds a global checkpoint.
Enter the story03 / THE RHYTHMExplore the rhythm
THREE CALLS. ONE DAILY RITUAL.
A shared rhythm.
Open. Close. Midnight. Know your next moment.
02 / LUMINARY
Close.
AT THE UNDERLYING MARKET CLOSE
03 / LUMINARY
Midnight.
00:00 UTC · A GLOBAL CHECKPOINT
Drag to explore
Open. Start together. Gather liquidity as the underlying market begins its day.
THE DAILY AUCTION CALENDAR
Three moments to meet.
From the Luminary product and technical documents.
Explore the complete flow in the terminal.
The opening call.
Meet the underlying market at its opening bell. Orders collect privately before a pinned call block, creating a single point of price discovery as the trading day begins.
The closing call.
Concentrate liquidity around the underlying market close. One uniform clearing price and crossed-volume print can provide a clear end-of-session record.
The midnight call.
00:00 UTC gives global participants a scheduled meeting point between traditional sessions. It extends the daily rhythm without exposing the order book before the call.
A CLOSER LOOK
Know what happens next.
Your limit. Or the auction price.
A limit order protects your selected boundary. An at-auction order accepts the uniform clearing price within the asset’s reference band. Submission alone does not guarantee a match.
Unfilled intent
Unfilled orders can roll into the next eligible call or cancel. The specification says cancellations are not yield-gated; reserved collateral is released when an order is cancelled.
Calendar-aware by design
The backend schedule accounts for underlying equity calendars, daylight saving changes, holidays and corporate actions, including pauses across ex-dates. The calendar here includes DST and weekends only.
NAV and RFQ
Issuers and funds can request NAV-anchored auctions. Between the calls, the RFQ desk supports privately negotiated two-party blocks. These complement the regular open, close and midnight sessions.
Assets and prices shown here are illustrative. See Risk & eligibility for the current boundaries.
THE STORY CONTINUES