Goldman's Gothcha

Goldman’s Gotcha


A former Goldman Sachs computer programmer, Sergey Aleynikov, was arrested and charged with stealing the trading software from the firm.

Assistant U.S. Attorney Joseph Facciponti said Aleynikov’s alleged theft poses a risk to US markets. Aleynikov transferred the code, which is worth millions of dollars, to a computer server in Germany, and others may have had access to it, Facciponti said, adding that Goldman Sachs may be harmed if the software is disseminated.

“The bank has raised the possibility that there is a danger that somebody who knew how to use this program could use it to manipulate markets in unfair ways,” Facciponti said.

So it’s OK for Goldman can manipulate markets but not for outsiders if you take Facciponti’s reasoning.

This software allowed Goldman to trade on multiple trading platforms from NYSE to Turquoise simultaneously. Trding in public markets and dark pools and playing the middle for larger profits.
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