Dallas, Texas 09/24/2013 (Financialstrend) – There have been several changes in the way the market is structured. This has left companies like Goldman Sachs Group Inc (NYSE:GS) struggling with making changes to adapt to the new structure. It has increased the amount of money that it is keeps aside for purchasing securities and has also added some trading-sessions.
When it started a year ago, the company had two sessions on its platform. This has now been increased to 2 sessions per day. It will also offer guaranteed liquidity of $300 million said a person in the know who did not wish to be indentified since the change has not yet been made public. This platform was called GSessions and had been discontinued in August as there had been no demand for it.
The trading platform
Investors and corporate bond-dealers have launched different electronic trading platforms. The objective is to enhance the ability to change investment into cash even as new capital-rules have come into effect. Another objective is cost reduction. The largest dealers in the world have chopped 3/4th of their inventories of corporate-debt since the time they peaked in 2007.
Goldman Sachs Group Inc (NYSE:GS) commenced trading on this platform in 2012 June. It is located in the credit-trading unit of the bank and is a small segment of the revenue of the group.
In Monday’s trading, Goldman Sachs Group Inc (NYSE:GS) stock dropped by 2.65%. The shares opened at a price of $168.18, climbed to an intraday high of $168.46 and dropped to $165.25. Approximately 4.82 million shares were traded on Monday. An average volume of 3.12 million shares were traded over a period of 30 days. The company has a market cap of $74.25 billion.
About the company
Goldman Sachs Group Inc (NYSE:GS) is a global-investment banking, investment management and securities firm. It provides a variety of financial services to a vast and diversified client-base of financial institutions, corporations, high-net-worth individuals and governments.