Michael J Palumbo

Michael John Palumbo (born October 28, 1966 in Chicago, Illinois) is an American venture capitalist. Palumbo is a founder and controlling partner of Third Millennium Trading, LLP., Third Millennium Trading, LLC., and TMT Investments, LLC., all Chicago-based proprietary trading and market making firms. Palumbo turned $250,000 into over $100 million within ten years of founding Third Millennium Trading, LLP. (TMT) in 1996.
Business career
Palumbo began his career as a credit analyst at Duff & Phelps, where he analyzed the bond insurance industry. He then started his CBOE floor career as a clerk for Susquehanna Financial Group in 1993.
By 2006, Palumbo's initial $250,000 in Third Millennium Trading, LLC. had grown to over $100 million.<ref name=focus40 />
In January 2008, Palumbo's firm sustained losses, which resulted in a lawsuit by Palumbo against Merrill Lynch. Additionally, in 2008, Palumbo founded TMT Investments, LLC., which has since become the operating entity for all trading activities. Also in 2008, Third Millennium Trading, LLP. moved its trade clearing from Merrill Lynch to Goldman Sachs.<ref name="companytimeline" />
Palumbo is still the controlling partner of TMT Investments, LLC., which continues to operate on the CBOE, specializing in various financial products.<ref namecompanytimeline /> He is also the principal of MJP Capital, LLC., a private Midwest regional holding company focusing on real estate and technology. The two main ventures of MJP Capital are Ceres Acquisitions, and CeresTech.<ref name"mjpcapital.net"/>

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