Goldman Sachs' Massive Trading Error
Goldman Sachs' Massive Trading Error Bears A Scary Resemblance To The One That Brought Down Knight Capital
Business Insider via Yahoo Finance. More at: http://finance.yahoo.com/news/goldman-sachs-massive-trading-error-113310219.html
Here's how far Goldman's faulty trade, which were sent to options exchanges around the country, reached yesterday (from Bloomberg):
The trading may have affected about 400,000 contracts for companies such as JPMorgan Chase & Co., Johnson & Johnson and Kellogg Co., based on data for the 500 biggest trades. Nasdaq OMX PHLX is reviewing a list of about 1,225 unique contracts on 51 underlying stocks, according to its trader alert email.
About 240 September $103 put contracts for the iShares Russell 2000 Exchange-Traded Fund traded at $1 at 9:32 a.m. New York time today, down from as much as $3.32 two minutes earlier, data compiled by Bloomberg show. The next trade was executed at $3.27 at 9:33 a.m.