Themis Trading & Cowen to Hold 3rd Annual Market Structure Event June 22nd

'Who's Looking Out for the Big Guy?'

NEW YORK, NY--(Marketwired - Jun 13, 2016) - Themis Trading and Cowen and Company will host their 3rd Annual Market Structure Event on Wednesday, June 22, at Le Parker Meridien Hotel, New York City. The focus this year will be on how the interests of long-term, institutional investors have been overlooked in the equity market structure debate.

The event, exclusively for Cowen and Themis clients and invited guests, is considered the premier occasion for buy side traders and PMs to openly discuss the year's most pressing market structure issues with leaders in the field.

"Most market structure discussion has been about intermediaries and retail investors," said John Cosenza, Head of Electronic Trading at Cowen ATM. "Institutional investors, which represent the vast majority of individual investor assets, have largely been forgotten. Thus, our event theme, 'Who's looking out for the big guy?'"

"We expect a lot of thought-provoking discussion that will continue to give the buy side more insight into how the market structure works," said Joe Saluzzi, Partner and Co-Head of Equity Trading at Themis. "After all, markets should be about long-term investment leading to growth of strong, publicly traded companies."

Speakers will include Brad Katsuyama and Ronan Ryan, founders of IEX, which is awaiting a ruling from the Securities and Exchange Commission on its exchange designation. The SEC is expected to rule just days before. The agenda also features:

  • Mett Kinak, VP and head of Global Equity Market Structure and Electronic Trading at T. Rowe Price, and Sal Arnuk, Partner and Co-Head of Equity Trading at Themis, on trade execution quality
  • Tim Quast, President of ModernIR, and investor relations and financial executives from several publicly traded companies on how market structure is affecting issuers
  • Robert Battalio, professor of finance at the University of Notre Dame, on how maker-taker fees create price distortions and conflicts
  • Jeff Alexander and Linda Giordano of TABB Clarity and John Cosenza of Cowen on optimizing liquidity seeking algorithms
  • Eric Hunsader, CEO of Nanex, who will use visual data to illustrate the complexity of equity market trading

About Themis Trading (

Themis Trading LLC (market maker acronym "THEM"), based in Chatham, NJ, is an NASD member brokerage firm that trades equities for institutional money managers. Named after the Greek goddess of fairness and trust, Themis is one of the first independent, agency-only brokerages. It specializes in strategies and systems designed to avoid the negative effects of high frequency trading and execute the best possible trades for its clients. Joe Saluzzi and partner Sal Arnuk are the co-authors of the book, "Broken Markets: How High Frequency Trading and Predatory Practices on Wall Street are Destroying Investor Confidence," and recognized commentators who appear frequently on television and in the printed media regarding market structure and high frequency trading (HFT). Themis produces a popular blog and monthly report on trends and developments in equity trading and market structure.

About Cowen Group, Inc. (

Cowen Group, Inc. is a diversified financial services firm and, together with its consolidated subsidiaries, provides alternative asset management, investment banking, research, and sales and trading services through its two business segments: Ramius and its affiliates make up the Company's alternative investment segment, while Cowen and Company, a member of FINRA and SIPC, and its affiliates make up the Company's broker-dealer segment. Ramius provides alternative asset management solutions to a global client base and manages a significant portion of Cowen's proprietary capital. Cowen and Company and its affiliates offer industry focused investment banking for growth-oriented companies, domain knowledge-driven research, a sales and trading platform for institutional investors and a comprehensive suite of prime brokerage services. Founded in 1918, the firm is headquartered in New York and has offices worldwide.

Contact Information:

Themis Trading Media Contact:
Michael Wichman

Gary Fishman

Anreder & Company

Cowen Group Media Contact:
Dan Gagnier