We doubt that this will satisfy the hardcore of Goldman Sachs conspiracy theorists but here goes: the New York Stock Exchange says it was its own screw-up that left Goldman off the exchanges weekly list of program traders last week.
Goldman was regularly at the top of the list. Mysteriously, however, Goldman vanished in last week’s report, despite the fact that program trading was at an all time high of 48.6% of the NYSE’s daily volume. This prompted speculation that changes in the way the data was being compiled was intentionally obscuring Goldman’s dominant role. And this morning we wondered whether this case of alleged theft of Goldman’s program trading code had diminished its role.
Nope, says the NYSE. It was just an error in the report. Later this week they promise a revised report. And Goldman, for its part, says its own internal data shows that it should have been on the top of list.
“It was an error on our part in the program trading report. The program trading report will be revised with a corrected version coming out later this week,” said Ray Pellecchia, a spokesman for NYSE Euronext, according to Dow Jones newswire.
“According to the data Goldman Sachs submitted, we are certain we were among the top firms in terms of program trading volume for the week ended June 26,” said Michael DuVally, a spokesman for the Wall Street firm, according to Dow Jones.
That hardly sounds like a firm attempting to cover up its dominance in program trading.
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