News

Law

Asset Management

Investment Banking

Wealth

Hedge Funds

People

Newsletters

Events

Lists

How high-frequency stock trader Quantlab guarded its algorithms

Start-up SXP's founders stand accused of stealing trading code from Quantlab

The meeting that started the trouble took place at a monastery in Florence, Arizona.

Under a gazebo's shade, a Ukrainian physicist who aspires to be a monk met with a Milwaukee lawyer seven years ago and began planning a firm whose profits from rapid-fire stock trades would go mostly to charity. They and another founder eventually named it SXP Analytics after St. Xenia, an 18th century Russian who gave the poor her possessions.

WSJ Logo