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Goldman Sachs may close dark pool Sigma X: WSJ

[April 09, 2014]  (Reuters) — Goldman Sachs Group Inc <GS.N> could shut down Sigma X, one of the world's largest private stock-trading venues, the Wall Street Journal reported on Tuesday, citing sources.

Executives at the brokerage firm have raised the subject of closing the dark pool trading operation, according to the Journal. (http://r.reuters.com/pyx38v)

Executives are evaluating whether the revenue generated from operating Sigma X was worth the risks encountered, including a series of trading glitches and growing criticism of dark pools, sources told the Wall Street Journal.

The Journal also said that the decision is not imminent, and Goldman Sachs might keep the business.

In March, the company found pricing errors in its dark pool trading venue and sent checks to customers to compensate for the mistakes, a Bloomberg report said. (http://r.reuters.com/nyx38v)

A Goldman Sachs spokeswoman declined to comment on the report.

(Reporting by Devika Krishna Kumar and Tanvi Mehta in Bangalore; editing by Lisa Shumaker)

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