Ex-Goldman programmer found guilty in code theft

Conviction is the second guilty verdict in as many months involving the theft of trading code

A former Goldman Sachs computer programmer was convicted today of stealing the investment bank's confidential source code for its high-speed trading system.

High-speed trading and other financial firms aggressively protect their code, considering it a trade secret and a competitive advantage. Goldman required employees to sign a confidentiality agreement as part of their employment and that any software created by them in their jobs were the property of the investment bank.

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