A former Goldman Sachs programmer who was arrested by the F.B.I. back in 2009 for allegedly copying code from the company’s high frequency trading software is now being tried before a jury in New York.
According to his LinkedIn profile, Serge Aleynikov “lead the development of a distributed real-time co-located high-frequency trading (HFT) platform” during his two years at Goldman. Aleynikov was one of the top technology geeks on Wall Street, his lawyer told the Guardian. He also has a fan club on Facebook. HFT has become one of the biggest breadwinners for Wall Street in recent years.
Goldman alleges Aleynikov was stealing code to use at his new job at Teza Technologies, where he was tasked with developing a high-frequency trading system. Goldman is so sensitive about the case that lawyers persuaded the judge to close the testimony of three bankers to the public today.
Aleynikov’s defense? He was just copying the open source parts of the code and, oops, collected more than he meant to.
Goldman doesn’t use open source code, one partner at the firm scoffed. “It is a closely guarded secret,” he said.
adrianne [at] observer.com | @adrjeffries