December 11, 2010 |
A computer programmer accused of stealing software from Goldman Sachs Group Inc. faces up to 15 years in prison after being convicted on two federal criminal counts. A U.S. District Court jury in Manhattan found Sergei Aleynikov, 40, guilty Friday on one count of economic espionage and one count of transporting stolen goods across state lines. He is set to be sentenced in March. Aleynikov, who worked on Goldman's high-frequency-trading desk, was arrested a month after he quit the investment bank last year to work for a Chicago start-up, Teza Technologies, which was trying to build its own trading operation.
April 4, 2014 |
WASHINGTON -- Atty. Gen. Eric H. Holder Jr. announced Friday that the Justice Department is investigating the practice of high-speed trading on the stock exchanges. Holder, in testimony prepared for delivery before the House Appropriations Committee, said the Justice Department is investigating the use of computer algorithms and ultra-high-speed data networks to execute trades as a possible violation of antitrust laws. Firms that use such tactics, employing physicists and other scientists to predict changes in the markets sometimes only seconds in advance, have been around for more than three decades.
May 16, 2010 |
The cramped computer room in an office building overlooking the Harbor Freeway can't match the color and tradition of the New York Stock Exchange. No traders, opening bell or operatic din. Just floor-to-ceiling racks of Dell and Hewlett-Packard computers spitting out a monotonous drone. The only people passing through are janitors and the occasional programmer or electrician. But while the NYSE remains the cynosure of the global markets, much of the world's stock trading emanates from drab computer rooms such as this one in downtown Los Angeles, or in outposts such as Kansas City, Mo., or Jersey City, N.J. These are the epicenters of high-frequency trading, a breed of lightning-fast computerized trading that dominates today's stock market, but which critics say carries risks for investors and for the market itself.
October 9, 2010
SATURDAY Good Morning America (N) 7 a.m. KABC McLaughlin Group 6:30 p.m. KCET The Chris Matthews Show Bob Woodward, the Washington Post; Andrea Mitchell; David Brooks, the New York Times; Katty Kay, BBC. (N) 5:30 a.m. KNBC SUNDAY Today The significance of 10-10-10. (N) 6 a.m. KNBC Good Morning America (N) 6 a.m. KABC State of the Union With Candy Crowley Midterm elections: Democratic Congressional Campaign Chairman Rep. Chris Van Hollen (D-Md.); Rep. Kevin McCarthy (R-Ca.
April 10, 2014 |
Sony Pictures is close to a deal with bestselling author Michael Lewis to bring his latest book, a Wall Street drama and detective story, to the silver screen. “Flash Boys: A Wall Street Revolt,” recounts how a group of misfit stock brokers and techies worked to expose, and then fight back, against the tactics of high-frequency traders, or HFTs. The HFTs were able to exploit computer technology and millisecond advantages to make huge profits at the expense of regular investors.
November 29, 2013 |
NEW YORK - Ari Rubenstein, a "Star Trek" fan who counts physics as a hobby, wants to boldly go where Wall Street has never gone before: the speed of light. Rubenstein heads Strike Technologies, a New York company that's part of a budding cottage industry racing to build networks of ultra-fast microwave radio transmitters linking the world's financial hubs. It could be the final frontier in the financial industry's tech arms race as the fastest traders scramble to get even faster, and as regulators mull over ways to prevent technology breakdowns on Wall Street.