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Criminal probe into possible theft of KCG trading code

Jun. 04, 2014 6:50 AM ETKCG Holdings, Inc. (KCG) StockKCGBy: Stephen Alpher, SA News Editor
  • The Manhattan district attorney's office is investigation whether former KCG Holdings (NYSE:KCG) technology executive Raymond Ross stole computer code for the benefit of his new firm Clearpool Group. Now CTO at Clearpool, Ross calls the suggestion he or any of his colleagues stole any property from Knight "outrageous."
  • Code-theft cases are a growing area of practice as banks and trading firms seek to protect the technology driving operations and profits. Prosecutors have had mixed results, and among those cases pending is one against Sergey Aleynikov, who is charged with stealing HFT trading code from Goldman Sachs.

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