Wednesday, July 8, 2009

NYSE Failed to List Goldman as Top Program Trader

Paging Oliver Stone. Something very quirky is going on here. Goldman's trading code is ripped off. Program trading then breaks to new record highs in terms of volume. NYSE fails to list Goldman as the top program trader.

NYSE Euronext said its previously reported program-trading percentage of 48.6% for the week of June 22-26 was correct because it included trades by Goldman even though the firm was left off the list of most active firms.

After market watchers and bloggers queried how Goldman could have dropped off the most active program traders list, the NYSE revised its list of most active firms in program trading, placing Goldman at the top ahead of Credit Suisse Group's.

This ocurred, we add, after the NYSE announced that they planned to end reporting on program trading disclosure. Here's Zero Hedge's take on that, before the disclosure of Goldman Sachs' code being stolen:

In a move set to infuriate and send many Zero Hedge readers over the top, the NYSE has taken action to make sure that nobody will henceforth be able to keep track of the complete dominance that Goldman Sachs exerts over the New York
Stock Exchange. This basically ends our weekly Program Trading updates disclosed
every Thursday indicating that Goldman single handedly captured all of NYSE's program trading.In an information memorandum released on June 24 (09-31), the NYSE Regulation team has announced the Decommissioning of the Daily Program Trading Report (DPTR).

It appears to us that there is something in those numbers Goldman deosn't want other traders to see, now that their trading code has been compromised.

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