Slashdot Mirror

← Back to Stories (view on slashdot.org)

Chicago Mercantile Exchange Secrets Leaked To China

Posted by timothy on 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."

3 of 121 comments (clear)

  1. While the trade secrets going to China is bad.... by HerculesMO · · Score: 0, Offtopic

    Why aren't we prosecuting the criminals that stole from us in the US? You know, like all of wall street?

    http://nymag.com/news/frank-rich/obama-economy/presidents-failure/

    --
    The price is always right if someone else is paying.
  2. Boo-hoo! by taiwanjohn · · Score: -1, Offtopic

    Why do I find it so difficult to feel sorry for the Wall Street gamblers who got their precious "intellectual property" stolen?

    BTW, speaking of Wall St. gamblers... there's a new bill in Congress to reinstate the Glass-Steagall "wall of separation" between investment and commercial banking. Contact your reps to get them on board.

    http://market-ticker.org/akcs-www?post=184237

    --
    XML is like violence. If it doesn't solve your problem, you're not using enough of it. --AC
    1. Re:Boo-hoo! by footNipple · · Score: 0, Offtopic

      Hello taiwanjohn, nice to meet you. I'm a "Fat-cat commodities gambler" here in Chicago. Have been in the business for over 20 years along with writing proprietary software for other "fat-cats" and "fat-cat firms" for even longer. I too pay taxes (a very large amount) and spend money in our economy just like you. So what industry and line of work are you in?