Goldman Sachs experienced a trading glitch Tuesday that resulted in a large number of erroneous single stock and ETF options trades. Many of the trades may wind up being erased but the error could still cost the firm upwards of $100 million, according to a person familiar with the situation.
"The exchanges are working to resolve the issue," a Goldman spokesman said in a statement. "Neither the risk nor the potential loss is material to the financial condition of the firm."
The trades involved NYSE Euronext, CBOE and Nasdaq OMX, according to reports.