Zerohedge has been covering the Sergey Aleynikov story and some very strange details are emerging. It seems there is some proprietary code for high frequency trading which is amazingly profitable, as in too profitable.
In a commentary Thursday Iati offers some thoughts about how important algorithmic trading has become to the market. His conclusion hints at the significant power of the programmers.
July 6 (Bloomberg) -- Goldman Sachs Group Inc. may lose its investment in a proprietary trading code and millions of dollars from increased competition if software allegedly stolen by a former employee gets into the wrong hands, a prosecutor said.
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