Reuters reports that two men have been charged by New York prosecutors with stealing secret computer code from a high-frequency trading firm in order to start their own HFT business.
It is alleged they stole “trading strategies, valuation algorithms and proprietary code”.
I posted over the weekend on how speed is apparently more important than just about anything else in HFT, with this article saying “The strategies employed by the most advanced HFT firms are shockingly simple … think exponential moving averages, with a handful of if statements and safety checks…”
I hope the two accused didn’t just steal code for exponential moving averages
