Home > American finance > Goldman Sachs trading software leaked

Goldman Sachs trading software leaked

July 7th, 2009

Found a very interesting piece by J.S Kim on a leaked trading software developed by Goldman Sachs. It can evidently be used to manipulate markets and make GS millions a year (according to the DA investigating the case). Kim speculates that GS is using it in the crude oil sector. And possibly also in stock markets, remember the low volume bear market rally as of late?

Read up here: http://seekingalpha.com/article/147260-goldman-sachs-thoughts-on-the-developing-stolen-trade-secrets-scandal

So, wouldn’t you like that EA? Unfortunately it probably is useless if you aren’t hooked up to COMEX directly and isn’t in possession of the kind of money GS is. But I bet that there are many financial institutions that are interested in getting the software now…

Update: Tyler Durden also covers the story: http://seekingalpha.com/article/147104-is-a-case-of-quant-trading-sabotage-about-to-destroy-goldman-sachs

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