This week, the “Masters in Business” radio podcast features Joe Saluzzi of Themis Trading. He and co-founder Sal Arnuk are co-authors of the book “Broken Markets: How High Frequency Trading and Predatory Practices on Wall Street Are Destroying Investor Confidence and Your Portfolio.”
In the podcast, Saluzzi discusses how regulatory changes and a shift in exchange ownership from nonprofit to for-profit status led to a major shift in market structures. These changes have led to all manner of problems, not the least of which was the May 6, 2010, Flash Crash. Since then, we have seen mini crashes in individual stocks and, more recently, Treasuries and currencies.
Next week, I speak with Michelle Meyer of Bank America Merrill Lynch.