Discovering errors, Goldman reportedly refunds customers

Goldman Sachs (GS -1.2%) has sent money to clients and other Street firms who used its Sigma X dark trading pool for making equity trades in August 2011, reports Bloomberg. The refunds likely aren't significant when measured against the bank's trading revenue, but do show the risks to operators of the vehicles created to allow investors to trade big blocks of stocks without letting news of the trades move prices.

Sigma X is one of the larger dark pools in the U.S., accounting for 1% of total daily trading in January, according to Rosenblatt Securities.

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Comments (2)
  • Edward Ulysses Cate
    , contributor
    Comments (80) | Send Message
    Dark pools, dark money, dark politics, dark future.
    13 Mar 2014, 02:14 PM Reply Like
  • Romeo Fayette
    , contributor
    Comments (88) | Send Message
    I'll make a market and take the other side of that trade for you.
    13 Mar 2014, 02:41 PM Reply Like
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