Goldman Sachs has put four senior technology specialists on leave after an embarrassing trading glitch that is likely to cost the bank tens of millions of dollars.
The decision to place the employees on administrative leave was made following last Tuesday’s trading error, according to a person familiar with the events. A Goldman spokesman declined to comment on internal personnel matters at the bank.
Goldman last week accidentally sent thousands of orders for options contracts to exchanges operated by NYSE Euronext, Nasdaq OMX and the CBOE, after a systems upgrade that went awry. The faulty orders roiled options markets in the opening 17 minutes of the day’s trading and sparked reviews of the transactions.
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