Haim Bodek is an American developer of

trading software Trade involves the transfer of goods and services from one person or entity to another, often in exchange for money. Economists refer to a system or network that allows trade as a market. An early form of trade, barter, saw the direct excha ...

, and the son of physicist

Arie Bodek Arie Bodek (born 1947) is an American experimental particle physicist and the George E. Pake Professor of Physics at the University of Rochester. Bodek was awarded the 2004 American Physical Society W.K.H. Panofsky Prize in Experimental Particle ...

. He worked for

Hull Trading Company Hull Trading Company was an independent algorithmic trading firm and electronic market maker. Known for its quantitative and technology-based trading strategy, it was acquired by Goldman Sachs in 1999. History In the late 1970s, Blair Hull dev ...

which was acquired by

Goldman Sachs Goldman Sachs () is an American multinational investment bank and financial services company. Founded in 1869, Goldman Sachs is headquartered at 200 West Street in Lower Manhattan, with regional headquarters in London, Warsaw, Bangalore, H ...

in 1999. He became the global head of Electronic Volatility Trading at

UBS UBS Group AG is a multinational Investment banking, investment bank and financial services company founded and based in Switzerland. Co-headquartered in the cities of Zürich and Basel, it maintains a presence in all major financial centres ...

by 2006, and later established his own company Trading Machines. 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. He exposed the situation with a complaint in 2011 to the

Securities and Exchange Commission The U.S. Securities and Exchange Commission (SEC) is an independent agency of the United States federal government, created in the aftermath of the Wall Street Crash of 1929. The primary purpose of the SEC is to enforce the law against market ...

, which resulted in

BATS Global Markets Bats Global Markets is a global stock exchange operator based in Lenexa, Kansas, with additional offices in London, New York, Chicago, and Singapore. Bats was founded in June 2005, became operator of a licensed U.S. stock exchange in 2008 and o ...

paying a record $14 million fine. A 2013 documentary film, ''The Wall Street Code'', recounted Bodek's investigation of the illicit trading strategies.

References

{{DEFAULTSORT:Bodek, Haim American stock traders Living people American computer programmers Year of birth missing (living people)