Goldman Sachs is leaving the floor of the New York Stock Exchange.
The investment bank, whose history has been intertwined with the downtown Manhattan exchange since 1896, is in the process of selling its “designated market-maker” unit, according to people familiar with the matter.
The planned exit will mean that Goldman no longer has a physical presence at the NYSE, in a sign of just how much stock trading has changed in recent years. The noisy trading floors of the open outcry era have long since been replaced by computers; now there are just a few telegenic huddles engaged in bursts of activity at the start and finish of each day.
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