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Goldman trading glitch could cost more than $100 million
Goldman Sachs experienced a trading glitch Tuesday that resulted in a large number of erroneous single stock and ETF options trades. Many of the trades may wind up being erased but the error could still cost the firm upwards of $100 million, according to a person familiar with the situation. "The exchanges are working to resolve the issue," a Goldman spokesman said in a statement. "Neither the risk nor the potential loss is material to the financial condition of the firm." The trades involved NYSE Euronext, CBOE and Nasdaq OMX, according to reports. A CBOE spokesperson said erroneous trades were being adjusted and ... (full story)
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- Mingary
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Sure I have a trading plan. Buy low. Sell high. What's yours?