REPORT: Goldman Sachs Lost Up To $US100 Million On Bad Trades Today

Goldman Sachs reportedly could lose $US100 million after making erroneous trades today, the Financial Times reported.

The bank told Bloomberg it is now “working with exchanges” to resolve faulty options trades from this morning.

Trades in tickers beginning with the letters H through L during the first 17 minutes of trading today are being examined by NYSE Amex Options, Bloomberg also reported.

From the Financial Times:

The development came after a large number of trades outside the normal price range flooded US options markets in the opening minutes of trading, stemming from NYSE Euronext and spilling out to rival exchanges.

A Goldman spokesman confirmed the error to Bloomberg news, saying that any losses “would not be material.”

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at