Tag Archives: trading program

Goldman says if you have their trading program, you too could manipulate markets

Stacy Summary:  Actually, it was the US attorney who said it, but as Durbin says “bankers own the place.”  Maybe this ‘theft’ is actually just a shock and awe type sales pitch? Or maybe they want to blame someone else for the next leg down?  We know via ZeroHedge that Goldman was, afterall, 50% of the program trading market.  Though, conveniently, the NYSE issued a new rule last week that makes it impossible for the public (or bloggers) to know who is manipulating markets.

“The bank has raised the possibility that there is a danger that somebody who knew how to use this program could use it to manipulate markets in unfair ways,” Facciponti said, according to a recording of the hearing made public today. “The copy in Germany is still out there, and we at this time do not know who else has access to it.”

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