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REPORT: Goldman Sachs Lost Up To $100 Million On Bad Trades Today

Steven PerlbergAug 21, 2013, 01:49 IST

REUTERS/ Brendan McDermidGoldman Sachs reportedly could lose $100 million after making erroneous trades today, the Financial Times reported.

The bank told Bloomberg it is now "working with exchanges" to resolve faulty options trades from this morning.

Trades in tickers beginning with the letters H through L during the first 17 minutes of trading today are being examined by NYSE Amex Options, Bloomberg also reported.

From the Financial Times:

The development came after a large number of trades outside the normal price range flooded US options markets in the opening minutes of trading, stemming from NYSE Euronext and spilling out to rival exchanges.

A Goldman spokesman confirmed the error to Bloomberg news, saying that any losses "would not be material."