As reported by Bloomberg, former Societe Generale SA trader Samarth Agrawal was sentenced to three years in prison for stealing the bank’s high-speed trading software. Agrawal would have done better by attending Golden Networking’s High-Frequency Trading Experts Workshop 2011 (http://www.HFTExpertsWorkshop.com), "Practical Implementation of High-Frequency Trading Strategies", New York, March 3 & 4, Sydney, March 14 & 15, Singapore, March 16 & 17 and Mumbai, April 7 & 8. This workshop would have provided him and fellow attendees the most thorough understanding and practical knowledge of high-frequency trading required to build a profitable trading platform.
Agrawal was hired in 2007 in New York by the Paris-based bank to be a quantitative analyst. He was promoted to trader and given access to the company’s high-frequency trading software in April 2009, according to prosecutors. Later, during 10 to 12 meetings with Tower executives, he shared some aspects of a Societe Generale trading program called DQS, for “distributed quotation system,” Agrawal said. He said he used Societe Generale’s codes because he wanted the job at Tower and because he would have had to build a similar system once hired by the hedge fund. “That is SocGen’s trade secret and I stole it,” Agrawal said in a statement to Rakoff before he was sentenced. “And I should not have.”
High-Frequency Trading Experts Workshop 2011 is produced by Golden Networking (http://www.goldennetworking.net), the premier networking community for business executives, entrepreneurs, investors and diplomats, founded by former McKinsey consultant and Columbia Business School MBA Edgar Perez. Upcoming Golden Networking's Forums and Business Receptions include:
· Modern Derivatives Trading Experts Workshop 2011 Hong Kong, "Trading and Hedging with Interest Rate and Currency Derivatives" (http://www.ModernDerivativesTrading.com), March 31 & April 1, Hong Kong
· High-Frequency Trading Leaders Forum 2011 New York, "How Speed Traders Leverage Cutting-Edge Strategies in the Post-Flash Crash World" (http://www.HFTLeadersForum.com), May 16, 17 & 18, New York City
Panelists, speakers and sponsors are invited to contact Golden Networking by sending an email to firstname.lastname@example.org. Golden Networking has been frequently featured in the press, including recent articles in The Wall Street Journal, "Happy Hour for High-Frequency Trading", The New York Times, "Golden Networking Helps Job Seekers Make Overseas Connections", Los Angeles Times, "Speed-addicted traders dominate today's stock market", Reuters, "Revamp looms as trading experts huddle at SEC" and Columbia Business School's Hermes Alumni Magazine, "10 Under 10".