Connect to Themis Trading through ZagTrader

Who is Themis Trading?

Themis Trading LLC is an independent, agency-only institutional equity brokerage based in Chatham, New Jersey. It was founded in 2002 by Sal Arnuk and Joe Saluzzi, who had both worked in equity sales and trading at Instinet before starting the firm.

Themis executes US equity orders for institutional investors, sending them to lit exchanges and dark market centers to seek the best available prices. The firm does not engage in market making, proprietary trading or fundamental equity research.

Themis is also known for its commentary on US equity market structure. It publishes research through daily emails, white papers and a blog, and its partners co-wrote the book Broken Markets, which examined how computerized and high-speed trading changed US stock markets.

What Themis Trading offers

• Agency-only equity execution
• Institutional trading
• Market structure research and commentary

How ZagTrader connects and routes to Themis Trading

ZagTrader routes care, DMA and algorithmic orders to Themis Trading over FIX through ZagFN, from the same blotter as every other broker, with pre-trade checks first and executions booked straight back.

Routing to North America

For desks in the Middle East, Europe and Asia, North American brokers are the usual route into US and Canadian equities, options and fixed income. ZagFN carries that flow over one managed connection, so the US and Canadian sessions run through the same blotter, risk checks and post-trade as your home markets.