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Goldman Sachs Starts Giving Its Proprietary Systems Away Seven Years Too Late To Help Sergey Aleynikov

This is awkward.
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Probably not a huge fan of this. By World Economic Forum [CC BY-SA 2.0], via Wikimedia Commons

via Wikimedia Commons

You might think, having moved heaven and earth in an ultimately futile bid to throw a former programmer in jail and throw away the key for allegedly absconding with a few lines of code, that Goldman Sachs is still pretty sensitive about keeping its technology close to the vest. Ten years ago, you would have been right: Gary Cohn was on the fence about whether he’d license the bank’s prized Securities DataBase, even for $5 billion. For a license.

Now, however: Just take it. Goldman can’t use it, anyway. Open a $1 account with Marcus and you can probably play around with the most profitable software in history.

The firm’s motives aren’t altruistic; rather, many of the edges that once made Goldman’s traders feared and admired have been blunted. New rules have limited banks’ trading risks, and made it costly to hold large inventories of stocks and bonds on their books. And electronic trading has squeezed margins, dimming the clamor of trading floors across Wall Street….

Thus, Goldman’s new gambit: Deploy its technology to win more business from clients. Many of those tools are being offered in the form of web-based applications that customers can customize and operate on their own.

Goldman Sachs Has Started Giving Away Its Most Valuable Software [WSJ]
Understanding SecDB: Goldman Sachs’s Most Valued Trading Weapon [WSJ]


Sergey Aleynikov Is Dancing Again

One thing that I may have mentioned here is that, before I was lured to the blogging industry by the outrageous lucre on offer, I worked at this little establishment called Goldman Sachs. One thing that I probably haven't told you, but that I've mentioned to a few friends and co-workers, is that due to some frankly inexplicable confusion, the time between my telling people "I am leaving to go work for Dealbreaker" and my being escorted out of the building by active-duty Navy SEALS was somewhat longer than you might expect (viz. several nanoseconds). One thing that I've never told anybody, so let's keep it between us, is that I made good use of the delay to download certain files to a flash drive. I won't discuss all the details, since I'm using some of those files to set up my own high-frequency insider trading fund, but I will mention that with the right codes the voice recorders in the GS elevators can be accessed remotely.* One reason I never told anyone about this before is that Goldman takes it badly when people take stuff with them on the way out, and has a tendency to react by having them imprisoned for the better part of a decade. After today, though, it looks like I'm good to go: