Skip to content
Subscriber Only

Knight Said to Enlist Goldman Sachs to Close Out Errant Trades

Knight Capital Group Inc. turned to Goldman Sachs Group Inc. on Aug. 1 to buy the firm out of trading positions acquired by mistake when a computer program malfunctioned, a person with knowledge of the matter said.

Knight has until the close of business on Aug. 6 to complete the transaction with Goldman Sachs, said the person, who asked for anonymity because the deal hasn’t been made public. David Wells, a spokesman for New York-based Goldman Sachs, said he couldn’t comment. Kara Fitzsimmons, a spokeswoman for Knight, didn’t immediately return a call seeking comment.