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What the Stolen GS code means

There was a story that broke this week regarding the automated trading platform of Goldman Sachs being copied to a server in Germany by one of the developers there.

In my opinion, the damage to their reputation is worth more than the code.  If you were able to get your hands on that code, it would be practically worthless without all the ancillary services to go with it.  I'm sure that there are databases, servers, and various execution desks involved with that platform.  Supposing you could read the code, like me, and you saw the strategy involved, you couldn't practically trade on it, because you'd need access to the rest of the vast resources available to Goldman Sachs.  You'd need leading-class low latency pipelines everywhere, and huge team of dedicated professionals.

The guy involved was arrested.  He pleaded stupidity.

I look at this kind of thing as something that will become more and more common, as the size of development teams necessarily grows.