Business Model

  • Agency trading of US equities for institutions
  • Market structure analysis and commentary
  • Client focused best execution through a multitude of Exchanges, ATS and ECNs
  • No market making or proprietary trading and the related client conflicts
  • Total execution anonymity
  • Senior trader relationship management
  • Conservative capital structure significantly exceeding regulatory capital requirements


Partner Experience

  • Sal Arnuk - Agency trader and trading desk manager since 1991
  • Joe Saluzzi - Agency trader and trading desk manager since 1993
  • Scott Wilson - Position and program trader since 1986
  • Paul Zajac - Trading firm management, investment banking and commercial banking since 1990


Clearing, Connectivity, And Other Capabilities

  • Introducing broker clearing through Cowen Execution Services LLC on a fully disclosed basis
  • OASYS and ALERT compatible, batched allocation of programs
  • FIX order ready across all networks, as per client needs
  • Soft Dollars / CSA's through Westminster, ITG, Instinet and Bloomberg or directly through Themis
  • Step-outs to other brokers