June 3 KCG Holdings Inc suspects its
trading code was likely stolen, lawyers for the New Jersey-based
trading firm told Manhattan prosecutors, the Wall Street Journal
reported on Tuesday.
The Manhattan district attorney's office is investigating
whether a former technology executive stole the computer code
and used it to benefit a rival, the paper reported, quoting
people who were briefed on the probe. (link.reuters.com/byz79v)
Raymond Ross, a former technology executive at Knight
Capital and present chief technology officer of New York-based
Clearpool Group, is the focus of the investigation, according to
one of the people briefed on the probe, the WSJ said.
"We haven't taken any intellectual property. I personally
have not and don't have knowledge of anyone else who has," Ross
told the WSJ, adding that Clearpool would launch a countersuit
"against those responsible" and "vigorously fight the false
KCG was formed in July 2013 when Knight Capital Group Inc
merged with Getco Holding Co.
The prosecutors are examining communications, computer
records and other information from KCG and elsewhere, the WSJ
Both KCG Holdings and Clearpool were not immediately
available for a comment.
(Reporting by Sudarshan Varadhan in Bangalore; Editing by Lisa