Themis Trading's Saluzzi Says Apple Flash Crash Was A 'Liquidity Event'

Speaking to Benzinga, Themis Trading partner Joseph Saluzzi called the mini flash crash in shares of Apple Inc.

from Monday morning a liquidity “event.” Saluzzi explained that since high frequency traders supply most of the stock market liquidity nowadays, they run for the exits quickly. “They may have not been the cause (of the initial drop), but they certainly exacerbated the event by the removal of their quotes,” according to Saluzzi.