Ever since the conviction of former Goldman Sachs coder Sergey Aleynikov to a shocking eight years of prison, it seems to be a risk to be employed as programmer in the high frequency trading sector. The Aleynikov story didn’t end with the conviction by the way. Released and sued again (wiki).
Similar to Aleynikov, ex-Flow Trader Jason Vuu was also charged by Manhattan District Attorney Cyrus R. Vance. Vuu was sentenced to five years of probation, and agreed to pay $50k as restitution.
His partner in crime, Simon Lu (who has no relatives at IMC Chicago) will probably face the same sentence. Lu was not employed at Flow. In an unrelated other case, former Flow Trader employee Glen Cressman has been offered a three year ban from the security business and a restitution of $60k. The judge said he should take it (“very, very generous offer”).
All defendants claimed earlier no part of Flow Traders proprietary trading software called Pit Bull has been copied. By the way, like the names of internal trading software. Pit Bull. Sounds only a little better than Optiver’s Hammer.