Haim Bodek (born 1970 or 1971[1]: 25 ) is an American developer of trading software. He worked for Hull Trading Company which was acquired by Goldman Sachs in 1999. He became the global head of Electronic Volatility Trading at UBS by 2006, and later established his own company, Trading Machines, in 2007.[1]: 33–35 

When his software started losing money in 2009, he tracked the cause to an undocumented order type which was being used by other algorithmic trading companies to gain an advantage over other traders.[2] He exposed the situation with a complaint in 2011 to the Securities and Exchange Commission, which resulted in BATS Global Markets paying a record $14 million fine.[3] A 2013 documentary film, The Wall Street Code, recounted Bodek's investigation of the illicit trading strategies.[4]

He is the son of physicist Arie Bodek.[1]: 24  He graduated from the University of Rochester in 1995 with a degree in mathematics and cognitive science, and went to work at Magnify, the company founded by computer scientist Robert Grossman.[1]: 26  He married Elizabeth Bonheim in 1997.[1]: 35 

References

  1. 1 2 3 4 5 Patterson, Scott (2012). Dark Pools: High-Speed Traders, A.I. Bandits, and the Threat to the Global Financial System. Crown Publishing. ISBN 978-0307887177.
  2. ↑ Alec Liu (2014-12-19). "What Led Whistle-Blower Haim Bodek to Expose the Biggest Scam on Wall Street?". vice.com.
  3. ↑ John McCrank (2015-01-12), BATS exchange group to pay record $14 mln U.S. SEC fine, Reuters
  4. ↑ "The Wall Street Code". Top Documentary Films. Retrieved 10 May 2020.
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