Arnuk & Others: High-Frequency Trading & Its Discontents

Sal Arnuk

Sal Arnuk 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. Arnuk has extensive experience in equities trading and is an expert in electronic trading and market structure. Prior to founding Themis in 2002, he was with Instinet Corporation, where he headed the team responsible for equity sales and trading for institutional money managers, for more than 10 years.

His opinions are sought by leaders, regulators, market participants, and the media, and are presented via white papers and Themis’ widely-read blog. He is a frequent speaker at industry conferences, such as Trader Forum, Waters, National Organization of Investment Professionals (NOIP) and Fusion IQ's Big Picture, on issues involving market access, algorithmic trading and other sell- and buy-side concerns.

He also provides expert commentary for media outlets such as the Associated Press, BBC Radio, Bloomberg TV & Radio, BNN, CNBC, Fox Business, NPR, Barron’s, The New York Times, The Wall Street Journal, USA Today, Time, Los Angeles Times, Bloomberg News, Pensions & Investments and Advanced Trading. He is also co-author of the book, Broken Markets.

Arnuk earned an MBA in Finance from New York University’s Stern School of Business and a Bachelor’s Degree in Finance from SUNY Binghamton University.