Goldman Sachs could lose as much as $100m after making erroneous trades that disrupted trading activity across multiple options exchanges on Tuesday, market participants have told the Financial Times.

People familiar with the matter identified Goldman as the trading firm behind the options trades that led exchanges run by NYSE Euronext, CBOE and Nasdaq OMX to say they were reviewing the transactions.

These people said Goldman’s losses from the trades could amount to $100m if they were not cancelled.