GOLDMAN SACHS LAUNCHES NEW SIGMA X ORDER-MATCHING CAPABILITY

Posted December 15, 2008

NEW YORK – Goldman Sachs Electronic Trading (GSET) has launched new order-matching capabilities in its SIGMA X liquidity pool, called SIGMA X-Cross, that match orders at specific points during the trading day, starting first with one 10:30 a.m. cross and an afternoon cross to follow.

“X-Cross adds a brand new dimension to the SIGMA X experience,” says Rishi Nangalia, Managing Director and Global Head of business Development for GSET. “Many of our clients have already benefited from finding liquidity in SIGMA X. The timed crosses and the inclusion of our existing flows will make it easier for them to source even more liquidity across a broad universe of symbols.”

SIGMA X-Cross will use liquidity from Goldman Sachs’ algorithms and its ATS order book, creating opportunities for customers to find liquidity. X-Cross also allows users to set net cash and beta-adjusted neutrality constraints to control exposure and manage execution risk. Users will be able to enter X-Cross orders through the REDIPlus execution management system or FIX.