| Document Date: 2012-04-04 02:45:42
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Company Joseph Saluzzi A Themis Trading LLC / Toxic Trading / Bloomberg / Yahoo / Themis Trading LLC / Goldman Sachs / / Country United States / / Currency USD / cent / / Event Man-Made Disaster / / Facility NYSE building / / IndustryTerm institutional agency broker / retail / electronic trading systems / algorithmic trading systems / electronics / institutional and retail investors / retail investors / / MarketIndex S&P 500 / NASDAQ 100 / Russell 2000 / / Organization US Federal Reserve / U.S. Securities and Exchange Commission / / Person Paul S. Zajac / Hybrid / / / Position loss leader / broker dealer / institutional trader / high frequency trader / whip / liquidity rebate trader / trader / second trader / institutional agency broker / specialist / / URL www.themistrading.com / /
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Toxic Equity Trading Order Flow on Wall Street The Real Force Behind the Explosion in Volume and Volatility By Sal L. Arnuk and Joseph Saluzzi A Themis Trading LLC White Paper INTRODUCTION Retail and institutional invest