New York Stock Exchange: “We Screwed Up”

July 6th, 2009 by Tyler Durden

The story of Goldman's missing PT data has now entered the twilight zone. Matt Goldstein at Reuters reports that Goldman spokesman Michael Duvally notified him that Goldman did in fact not only perform its usual NYSE SLP domination, but also reported of this, as it does every week:
“According to the data Goldman Sachs submitted, we are certain we were among the
top firms in terms of program trading volume for the week ending June 26.”
And guess who is taking the blame: our old friend Ray Pellecchia over at the NYSE:
“Due to an error on our part, the program trading report needs to be revised and we will have a revised list out later this week. It was a system error on our part.”
Ray... just what system does the NYSE use that mysteriously drops the top Program Trading participant: is there a [if shares traded > 1 billion; AND; NYSE vows to Zero Hedge infinite transparency, do "Report 0"] line somewhere in that particular system? Our debugging skills are a little rusty but we would be happy to go through the code line by line and find all other comparable possible systemic errors. In fact, we would make it a crowdsourced event and allow all our readers to participate in that endeavor. Imagine just how bug free the NYSE system would be as a result of this voluntary venture. Of course, this would also prevent such dramas as 15 extra minutes of trading tacked on during the lowest volume day of the year, due to the NYSE's inability to clear and process this abnormally low trade volume.

Of course, Zero Hedge will gladly report the "adjusted" weekly PT data to the millions of people who have all of a sudden found a great interest in the NYSE's PT reporting. Furthermore, all those millions have somehow found their way to our new website, which unfortunately is still in the process of transferring over to its new much faster servers, and as a result of the unexpected explosion in traffic, has been either down or painfully slow all day. We appreciate readers' patience as we address this unprecedented traffic spike.


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Posted in Investing
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