Not being in that industry, to me it seems like the easiest part is coming up with a new trading idea. The hardest part would seem to be actually implementing it without bugs. Therefore, I'm not sure if noncompete clauses really provide a super-significant amount of value. Even if you left a firm with a super good trading strategy today and wanted to implement it elsewhere, you're still going to have to perfectly re-build it, which is probably not trivial.