Thursday May 23, 2019

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The Highs and Lows of Ultrafast Stock Trading

Lately there has been a rise in both civil and criminal suits surrounding the world of ultrafast computerized stock trading, something that has become very profitable to financial firms on Wall Street.  The trading is done through programs developed at firms such as Goldman Sachs that allow for the buying and selling of shares in milliseconds.

Because the programs take years to develop and are considered proprietary, top programmers that are recruited for ultrafast trading are offered large salaries and perks as a means for firms to stay competitive in the market.  In this world of programming, however, there is great risk to some programmers who try to leave their companies, according to an article in The New York Times.

banks, particularly those who
believe that  programmers are taking code as they leave to go to other financial firms, could be costing their firms millions, leading to costly civil and in some cases, criminal suits.

The New York Times