‘I Smuggled Code’: An MD’s Admission in Heated Brokerage Feud

A former executive at StoneX Group Inc. admitted to stealing trade secrets from his prior employer BTIG LLC, a surprise twist in a bitter battle between the rival brokerage firms.

Evan Pfeuffer, who was a managing director at StoneX Financial, said he and others stole technology including sensitive computer code, software and business ideas from BTIG so that StoneX could set up sophisticated automated trading tools. He was told to do so by StoneX management, both during his recruitment and after the firm hired him, he alleged in an affidavit seen by Bloomberg News.

“Like others, I smuggled ...