A former trader who has been arrested for stealing proprietary code used in a high-speed trading system was denied bail by a federal judge. Samarth Agrawal, 26, was arrested last week for allegedly printing out hundreds of pages of proprietary code from the portion of the system he has access to; as well as another 'unit' that he was not authorized to access. Code printouts were found by FBI officials at his apartment.

Charged with theft of trade secrets, Agrawal, could face a maximum of 10 years in prison if convicted. It was not known why the company took so long before reporting him; though it would appear that Agrawal was due to start work at another firm the Monday following his arrested.

For more on this story:
- check out this article at Computerworld 

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