Goldman Sachs Principal Transactions Update: 60% Decline

July 10th, 2009 by Tyler Durden

The most recent, presumably correct, data has been released by the NYSE: Goldman total principal program trading has declined by 60% from 1,336 million shares in the prior week to 571 million in the current. The end of the Russell rebalancing likely played a major role in the decline as overall NYSE program trading volume was also impacted by a comparable margin. Yet what was odd is that last week's Russell indexing action was the lowest volume rebalancing event in years.

Nonetheless, even with the material decline in overall program trading, it still accounted for 38% of the NYSE weekly volume, 12% higher than the running 52 week average. With the ever increasing dominance (I plan on summarizing the most recent three months' PT action early next week) of program trading, is it any wonder why all of a sudden even the MSM is expressing such persistent interest into not only peripheral personnel scandals associated with program trading but the core issues as well.


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Posted in Investing
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