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Goldman Sachs Hires Nasdaq to Run Its Sigma X Dark Pool

  • Nasdaq will provide technology and surveillance to Goldman
  • Nasdaq has been in talks with banks, brokers for service
Updated on

Goldman Sachs Group Inc. hired exchange owner Nasdaq Inc. to run its Sigma X stock-trading system, outsourcing day-to-day operations of its dark pool following an industrywide regulatory crackdown and amid escalating costs.

Nasdaq will provide the underlying technology and additional surveillance for Goldman Sachs’s market, which is the 11th-largest dark pool in the U.S. The agreement is subject to regulatory approval. Spokespeople for both companies confirmed that a deal had been reached.