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Sal Arnuk of Chatham, NJ, owns and manages the institutional brokerage firm Themis Trading LLC. An expert in electronic trading and market structure, frequent contributor to CNBC and Bloomberg TV, Arnuk's views have been presented in The Wall Street Journal, New York Times, USA Today, Los Angeles Times, and The Financial Times. Before founding Themis, he worked for nearly a decade at the electronic trading pioneer Instinet and Morgan Stanley. His opinions are sought by leaders, regulators, and market participants, and presented via his widely-read blog.