Goldman Sachs Options Error

Quote from newwurldmn:

Of course not. In the wrong hands it could destabilize the market
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Well no, the code couldn't destabilize the market, you still need money to do that.

But ok, yes - don't hand over the code, but does anyone from the SEC go in and investigate it? Code just doesn't have glitches, it acts on what it's coded to act on. Yes, code has bugs, but without looking at it who can say what really happened?
 
Quote from d08:

What if this was tactical. They knew they'd get cancellations, perhaps they traded on the equities in the same direction as the "errors". And equity trades aren't as easily reversed. Far fetched but remember, this is Goldman.
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That would be blatant manipulation. If they cancelled options trades without looking at underlying exposure I would say WTF
 
When you sit down to play at the casino, you need to understand the casino will change the rules whenever it believes they do not suit it.

The only way to protest is to not play.
 
Companies have rights that individuals can't hope to match. Oops my software made a mistake! Mr exchange please cancel all those orders for me will ya? (read, damn that strategy lost us money ;) ) What is a mistake in a world where the software sends thousands of orders as par for the course? It's not like a broker fat fingering a single stock!

Does everyone come out of this whole or does the little guy have to wear whatever they were dealt out of this? I can't accidentally rob everyone I meet in the street, say it was a mistake, pay a fine and walk, but if people lose money and GS walks isn't that what they just did?

I think I've said this before :D
 
Quote from Tsing Tao:

When you sit down to play at the casino, you need to understand the casino will change the rules whenever it believes they do not suit it.

The only way to protest is to not play.
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I'd rather to be able to go up to Blankfein, hit him, and say, sorry mate but you're only a little fish in the physical world, too bad for you I guess. But no, it'd be off to jail for me :p jk
 
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