In January 2015, former Citadel computer engineer Yihao “Ben” Pu was sentenced to three years in prison for stealing trade secrets from Citadel, a Chicago-based hedge fund. Citadel is estimated to hold $24 billion in assets. Pu worked in Citadel’s high-frequency trading unit, which created algorithms to predict the anticipated movement of securities and software programs to execute trades based on such algorithms. High-speed traders, including those at Citadel, treat their algorithms and related stock trading software as highly guarded trade secrets. Sources: Chicago Tribune If you have any questions regarding the content of this communication, please contact Jonathan R. Wachs: email@example.com | 301.575.0302. If you would like to subscribe to receive Friday Factoids® in your inbox click here.