Profile of Joe SaluzziPartner and co-head of equity trading, Themis Trading
Member Since: 5/8/2014
Blog Posts: 8
Joseph Saluzzi is partner, co-founder and co-head of equity trading of Themis Trading LLC, a leading independent agency brokerage firm that trades equities for institutional money managers and hedge funds. He is also the co-author of Broken Markets -- How High Frequency Trading and Predatory Practices on Wall Street are Destroying Investor Confidence. Mr. Saluzzi is a frequent speaker at industry conferences on issues involving market access, algorithmic trading and other sell- and buy-side concerns. He has provided expert commentary for media outlets such as CBS's 60 Minutes, BBC Radio, Bloomberg Television & Radio, CNBC, Fox Business, BNN, The New York Times, The Wall Street Journal, USA Today, Reuters, Associated Press, Los Angeles Times and Bloomberg News. Mr. Saluzzi also has authored articles for Traders Magazine, Dow Jones and Journal of Investment Compliance. Prior to Themis, Mr. Saluzzi headed the team responsible for equity sales and trading for major institutional accounts at Instinet Corporation for more than nine years. He graduated from the University of North Carolina at Chapel Hill with an MBA in Finance and received a Bachelor's Degree in Finance from New York University.
Articles by Joe Saluzzi
The proposal on dark pools from FINRA doesn't go far enough and leaves a lot of information in the shadows.
Fragmentation, complex trading rules, rebate arbitrage and opaque venues are just a few of the reasons why the market is unnecessarily complex.
In response to shares of Anadarko Petroleum trading as low as a penny last week, Themis Trading raises questions to Anadarko about the stock's rapid descent in the context of the current market structure.
While it’s been a long time coming, we are glad to finally see that the SEC has decided to get more involved in exchange regulation.
The study by Charles Jones cite the usual benefits of HFT: enhanced liquidity and more efficient markets. But what about the conflicts of interest and order types designed specifically for the benefit of high frequency players?
Due to the pendulum shift to almost full automation and the massive fragmentation of the stock market over the past decade, our equity market currently lacks a self-policing mechanism.
Themis Trading's letter to Mary Jo White asks the SEC Chairman nominee to consider regulating dark pools, changing the SRO rule-making process and banning payment for order flow at all levels.
We argue that the equity market goal of raising capital for corporations has been lost. Now a modern casino mentality and microsecond holding periods are undermining investor confidence and severely eroding the purpose of markets.