Goldman Sachs To Jump-start Stock-trading Business : WSJ

(RTTNews) - Financial services firm Goldman Sachs Group Inc. (GS) is trying to jump-start its stock-trading business, after top clients such as Fidelity Investments, BlackRock Inc (BLK), and investors voiced their concerns with the way Goldman and other firms trade stocks, the Wall Street Journal reported quoting people familiar with the matter.

The report said that Goldman Sachs has encouraged employees to stress to clients its views on market mechanics. Goldman's effort also included discussions over the future of its Sigma X private stock-trading venue. Previously, the Journal had reported that Goldman was considering shutting it down.

Money managers reportedly said they feared the stock market had grown too fragmented and complex, leaving everyone exposed to technological mishaps, and that banks often routed too many of their clients' trades to their own private trading venues, so-called dark pools, and gave unfair advantages to high-speed traders.

Such concerns could lead big investors to trade less, reducing volume and crimping revenue at Goldman and its peers, the report noted.