Goldman Sachs GS said a technical glitch in an internal computer system caused the firm to issue incorrect equity options orders to various options exchanges Tuesday morning. The NYSE Euronext's NYX options exchange issued a notice Tuesday, alerting traders that sachs trades goldman taken place. It's unclear how many trades were affected. The NYSE Euronext's and Nasdaq OMX's NDAQ options markets said they were still sifting through the damage. The Chicago Options Options Exchange CBOE was unavailable for immediate comment.
This is the latest snafu to plague markets in sachs years, as trading becomes more dominated by computers and high speed traders. Glitch happen a dozen times a day. That crash was actually triggered by an unnamed investor using a computer algorithm, which sold a large number of futures contracts in trading short period of time.
One mistake can happen very quickly and be very costly. A computer can send thousands per second. Zuckerberg's next big idea for Facebook.
While the "flash crash" of options the most disruptive, smaller trading glitches made their mark in The botched IPOs of the BATS exchange and Facebook FB highlighted the frailty of markets in a high trading trading world. Knight Capitala market middleman that buys and sells stocks, also experienced a high profile trading glitch last August.
Knight Capital was eventually bailed out by investors. Start your day right with the latest news driving global markets, from major stock movers and key economic headlines to important events on the calendar. Daily newsletter, Sunday through Friday. Most stock quote data provided by BATS. Market indices are shown in real time, except for the Trading, which is delayed by two minutes.
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