It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Some features of ATS will be disabled while you continue to use an ad-blocker.
(visit the link for the full news article)
Matt Goldstein over at Reuters may have just broken a story that could spell doom for if not the entire Goldman Sachs program trading group, then at least those who deal with "low latency (microseconds) event-driven market data processing, strategy, and order submissions." Visions of swirling, gray storm clouds over Goldman's SLP and hi-fi traders begin to form
he allegations, if true, are big news because the codes the accused man, Sergey Aleynikov, tried to steal is the secret code to unlocking Goldman’s automated stocks and commodities trading businesses. Federal authorities allege the computer codes and related-trading files that Aleynikov uploaded to a German-based website help this major “financial institution” generate millions of dollars in profits each year.
Originally posted by Hastobemoretolife
Sounds like something is about to go "boom!" financial wise. This is a big development.
The undisputed number one has disappeared off the NYSE list, and from other news it sounds like this has been known for a few weeks. I wonder who Goldman is going to take down with them?
I wonder if the gov. will force other firms to pick up the volume? Too many variables right now.
Originally posted by helpmefindtheway
Why the FBI? Because he uploaded it to a foreign site? I mean, not every criminal offense is handled by the FBI right? Can someone explain this to a non-american.
Originally posted by ZindoDoone
Didn't they extend trading time for an extra half hour sometime last week? They said it was because of some ..how did they put it..irregularities in trading?
Wonder if this has something to do with this new scandal?