Monday, February 15, 2010, 2/15/2010 07:36:00 AM

More on Investment Banking Algorithms – UBS Style

Following hard on the heels of the report concerning the indictment of the former Goldman Sachs trader, a brief report from Here is the City (a financial markets news aggregator), saying that Traders magazine is reporting that an arbitration case against three former UBS employees alleged to have stolen an algorithmic trading code has ruled in favor of the former employees.

According to the report:

UBS filed a suit against Sanjay Girdhar, Partha Sarkar and Jatin Suryawanshi which claimed that the three individuals misappropriated trade secrets when they left the firm to join Jefferies & Co last year, but a Financial Regulatory Authority (FINRA) panel has ruled that there is no case to answer.

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