Mr. Joyce will address the evolution of equity trading from the “stone age” several decades ago, when the NYSE was predominate with its fixed commission rates, to the present day with all the changes in electronic trading, considerably higher volumes, internationalization, changes in the overall structure of the exchanges, compressed spreads between bids and offers, and the advent of the phenomenon of high speed computer program trading.
The book Flash Boys by Michael Lewis was certainly an eye opener for many, notwithstanding the errors throughout the book, in terms of the sheer, almost incomprehensible speed of the trading. The good news is that the data says equity trading in the US has never been better for the retail investor. Tom will discuss this and more when he visits.
Tom Joyce is a recognized leader in the financial services industry. He has over thirty years of experience, both domestic and internationally. He is currently Executive Chairman of Arxis Capital.
Prior to Arxis, Tom was Chairman and CEO of Knight Capital Group. He joined Knight in 2002 and retired in July 2013. From January through May of 2002, Mr. Joyce was Global Head of Trading for S.C. Bernstein & Co.
Before that, he held a variety of leadership roles in the Global Institutional Equity business at Merrill Lynch & Co, during his almost fifteen years there.
He is a member of the Boards of Special Olympics Connecticut; the Alfred E. Smith Foundation; and Salisbury School. Mr. Joyce received an AB in Economics from Harvard College.
He has resided in Darien with his wife, Lisa, for almost thirty years. They have three children.