Goldman Sachs Group lost tens of millions of dollars after a computer glitch led to a flood of erroneous options trades last week, a source close to the matter said yesterday.
An upgrade of Goldman’s internal system Aug. 20 affected options on stocks and some exchange-traded funds with symbols beginning with the letters H through L, leading to trades vastly out of line with market prices.
Goldman Sachs said in an Aug. 20 statement that it did not face material loss or risk from the problem, but declined to comment further.