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Goldman Sachs’s Waning Dark Pool Revamped to Woo More Trades

  • Bank accustomed to being top player, but not among dark pools
  • New system, called Sigma X-Squared, to debut with two stocks
A pedestrian passes the headquarters of Goldman Sachs Group Inc., in New York.
Photographer: Scott Eells/Bloomberg
Updated on

Goldman Sachs Group Inc. is accustomed to winning, but its dark pool lags far behind private stock-trading systems run by its fiercest rivals. It has a plan to start turning that around.

The bank is debuting a new dark pool on Friday. At first, only two stocks will trade on the new platform, dubbed Sigma X-Squared, but everything else will be shifted over within about a month from the older Sigma X system, which will be shuttered, according to a client memo obtained by Bloomberg News.