Friday, August 5, 2011

Goldman Sachs Trading Platform Crashes

Hedge fund managers have not been able to trade this morning via GS.

The GS screen leaves hedgies with this message:
To our Valued Clients, Due to unexpected trade processing delays, we are experiencing custody reporting delays. We apologize in advance for this inconvenience.
Yikes, following yesterday's massive market move and Goldman can't execute for its primary dealers today. Not good for Goldman.
at 11:06:00 AM

3 comments:

  1. DTBAugust 5, 2011 at 11:21 AM

    Auch! I bet the Washington Post blames it on Lloyd Blankfein!

    ReplyDelete
  2. Bob EnglishAugust 5, 2011 at 11:50 AM

    I wonder if this is like the so-called quant meltdown in August 2007 when GS stopped taking MBS/CDO trades while they flipped to net short real estate over a week. Some GS clients have alleged that when GS is caught on the wrong side (prop), they shut down flow.

    ReplyDelete
  3. AnonymousAugust 5, 2011 at 5:08 PM

    which is why everyone is moving from Goldman to the far more technologically superior trading and settlement platform offered by Wedbush

    ReplyDelete

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