Trading Outage Amid Euronext Failure: Goldman Sachs Group

Goldman Sachs Group Inc.’s European dark pool suffered from Euronext NV's connectivity problem, resulting no trading at the open today.

The bank’s Euronext’s Smartpool  and Sigma X dark venue after first 75 minutes of European trading. According to the company, Sigma X, which is a multilateral facility, opened at 9:15 a.m. London time on the other hand, Smartpool resumed trading at 9:45 a.m.Amsterdam-based Euronext accepted that the connection between traders and the platform was disconnected.

According to the bank, Goldman Sachs’s Sigma X dark pool uses Euronext Market Solutions technology hosted in the exchange operator’s data center.

Alasdair Haynes, former chief executive officer of Chi-X Europe Ltd.,founder of subscription-based Aquis Exchange Ltd said,“Every single technology company will have technology problems at some point in time.” He added, “It’s how you mitigate those risks.”

Goldman’s dark pool has accounted for 0.5 percent of European equity-trading market share until now and Bats data show that Smartpool made up just 0.03 percent.

Euronext has equity markets in  France, the Netherlands, Belgium and Portugal.

A Goldman Sachs spokesman, said “the technical issue has now been resolved and Sigma X MTF is operating as normal.”