CowboyRobot writes: Three men have been charged with stealing proprietary high-frequency trading algorithms from Amsterdam-based trading house Flow Traders. The accusations include that two of the three, while employees of Flow Traders, emailed strategies, algorithms, and source code to themselves before quitting the company. Theft of proprietary code and algorithms from financial firms is increasingly common, with at least six related U.S. prosecutions since November 2010. But while plaintiffs argue that the code is essential intellectual property, the defense can argue that such information is intrinsically linked to the environment in which it's being run, requires teams of programmers to maintain, and thus is of little use to another organization.
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