Chicago Mercantile Exchange Secrets Leaked To China

Posted by timothy on Thursday July 7, 2011 @06:03AM from the like-coffee-to-south-america dept.

chicksdaddy writes with this excerpt from Threat Post: "A 10 year employee of CME Group in Chicago is alleged to have stolen trade secrets and proprietary source code used to run trading systems for the Chicago Mercantile Exchange and passed them to officials in China, where he hoped to set up a software firm to help create electronic exchanges, according to a criminal complaint filed in U.S. District Court in Illinois. Chunlai Yang, 49, is alleged to have downloaded "thousands of files" containing "source code and proprietary algorithms" used by CME to run its trading systems. The files were downloaded from a company-owned source code repository maintained by CME to Yang's work computer, then copied them to removable "thumb" drives. The complaint also cites personal e-mail correspondence between Yang and an official in China that contained proprietary CME information."

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Re:He must be guilty! by bsDaemon · 2011-07-07 06:26 · Score: 5, Informative

Douglas MacArthur has nothing to do with Joseph McCarthy. If you are going to complain, at least complain about the right thing.
Re:Did this happen because he was fired? by Anonymous Coward · 2011-07-07 10:39 · Score: 3, Informative

Nope. He was fired the day the Feds arrested him.
From http://in.reuters.com/article/2011/07/02/idINIndia-58048420110702 :
"Yang had made reservations for a one-way flight to China, due to leave Chicago on July 7, and had asked for corresponding vacation time from his job, the FBI affidavit said."