Goldman Sachs has made available a tool that allows its clients to tap into its trading system and trade blocks electronically.
The technology is part of a broader platform called Marquee, according to Reuters, which first reported the news.
The Marquee block-trading algorithm takes seconds to execute the trade, according to the Reuters report.
“Clients said they had a sense of urgency and that it’s really expensive to trade these blocks,” a Goldman executive involved in the system’s development, told the wire service.
At Goldman, Marquee is also used for risk management and profit-and-loss analysis for the broker’s equities business.
Goldman first rolled the technology out to a small group of clients in 2012. It did a broader rollout this year. The tool covers about 1,000 stocks and exchange-traded funds. About 1 million client trades have been processed through Marquee so far, according to Reuters.
