Skip to main content
Advertising

Originally published Wednesday, April 2, 2014 at 12:26 PM

  • Share:
           
  • Comments (0)
  • Print

Goldman Sachs considers selling NYSE unit

Goldman Sachs is considering selling its business unit that matches buyers and sellers on the floor of the New York Stock Exchange, according to a person familiar with the investment bank's thinking who spoke on condition of anonymity.


AP Markets Writer

Most Popular Comments
Hide / Show comments
No comments have been posted to this article.
Start the conversation >

advertising

NEW YORK —

Goldman Sachs is considering selling its business unit that matches buyers and sellers on the floor of the New York Stock Exchange, according to a person familiar with the investment bank's thinking who spoke on condition of anonymity.

The business is one of six on the floor of the exchange that are responsible for reducing volatility in stock trading. If Goldman completes the sale, it would follow Bank of America in departing from the floor of the exchange. Bank of America sold its market-making business to Getco, an electronic trading firm, in November 2011.

Goldman acquired its business on the floor of the exchange when it bought Spear, Leeds & Kellogg in 2000 for $6.5 billion.

Even though the brokers on the floor of the exchange are still the face of Wall Street, appearing in photographs that accompany stories about stocks, their importance to the market has gradually eroded as regulations have changed and more trading is done electronically.

The NYSE, which dates back to 1792 and is based in lower Manhattan, was itself acquired last year by IntercontinentalExchange, a much younger operator of global financial and commodities markets headquartered in Atlanta.



Want unlimited access to seattletimes.com? Subscribe now!

News where, when and how you want it

Email Icon

The summer is wide open.

The summer is wide open.

Follow our three-part "Washington's National Parks" series running through August 10 for an in-depth look at some of our local treasures.

Advertising

Advertising


Advertising
The Seattle Times

The door is closed, but it's not locked.

Take a minute to subscribe and continue to enjoy The Seattle Times for as little as 99 cents a week.

Subscription options ►

Already a subscriber?

We've got good news for you. Unlimited seattletimes.com content access is included with most subscriptions.

Subscriber login ►
The Seattle Times

To keep reading, you need a subscription upgrade.

We hope you have enjoyed your complimentary access. For unlimited seattletimes.com access, please upgrade your digital subscription.

Call customer service at 1.800.542.0820 for assistance with your upgrade or questions about your subscriber status.

The Seattle Times

To keep reading, you need a subscription.

We hope you have enjoyed your complimentary access. Subscribe now for unlimited access!

Subscription options ►

Already a subscriber?

We've got good news for you. Unlimited seattletimes.com content access is included with most subscriptions.

Activate Subscriber Account ►