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Traders Magazine, August 2002

Editorial Staff

*Electronic trading veterans, Sal Arnuk (formerly at Instinet Corp. and E.H. Smith Jacobs) and Joe Saluzzi (formerly at Instinet Corp.), along with Paul Zajac (formerly at First Union Securities) have established a new institutional agency brokerage, Themis Trading. Their trading team includes Pat DeGroat, Neil McKenna and Karen Spolar. The team will continue its focus on strict agency equity trading of OTC and NYSE securities from offices in New York. *Fred Graboyes has become the president of Orbitex Funds Distributor, the brokerage subsidiary of New York's Orbitex Financial Services Group. Graboyes will oversee the expansion of the unit's institutional agency trading operation. The trader was most recently with BNY ESI, the agency brokerage arm of the Bank of New York. There, he built the firm's portfolio trading capabilities.

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