Goldman Sachs Could Lose Millions on Erroneous Trades

Disrupted trading activity on Tuesday

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.

Comments

[Sevo]

"Goldman Sachs could lose as much as $100m after making erroneous trades"

What are "erroneous trades"?

[Anders]

It's GS. So probably money laundering or a mandatory contribution to one of the Regime's slush funds.

[Tejicano]

Funny how they use a vague term "erroneous" without mentioning whose error it was. Did some half-drunk trader at GS input the wrong instructions or did he mis-calculate and input the correct instructions for the wrong deal? I can't believe it was the system's error.

[Fist of Etiquette]

This is exactly how Batman lost Wayne Enterprises.