Flow Traders US caught two former employees with stealing source code. Three people are being charged. Okay, have to admit the prison part is a little exaggerated. But the three alleged source code thieves definitely look pretty silly. Sending lines of algo code home with your mail address doesn’t look like a criminal masterplan. TheRead more
Not only ASR Verzekeringen is searching for Richard den Drijver and his buddy Hans Kroon. The VEB is about to put a price on their heads. The main target, Den Drijver, is said to be hiding in Switzerland or living with his in-laws in Morocco. A recent development is the search for James McNally, who mayRead more
The alternative options exchange TOM is gaining speed. Last thursday the ten millionth option contract traded and market share climbed to 28% percent of the combined Euronext / TOM volume. However, it’s striking both exchanges agreed on ignoring the big elephant in the room. Increasing market share First, the good news. Over time, clients ofRead more
Four years ago, I wrote a small post about a Russian programmer called Sergey Aleynikov. He allegedly has stolen some of Goldman’s HFT source code. He switched from Goldman to a Chicago based hedge fund. Arrested and prosecuted for taking some source code with him, he was sentenced to eight years in federal prison. Unbelievable.Read more
Told you so, my sources are always right. Euronext confirms the introduction of the 1 cent tick size increment in the AEX index options. Every option below the threshold of 1.50 can be traded with 1 cent tick size. This will mostly be relevant for the options with short maturities, mainly the weekly and dailyRead more
