Regions

Top clients were quietly offered by Goldman Sachs Group Inc. a tool that will let them plug into its trading system. This tool will also allow them to electronically buy and sell large blocks of stock. 

The technology for the said tool is a part of Marquee, a broader platform. Goldman executives confirmed the matter with Reuters. The innovation of the technology is the latest attempt by a Wall Street bank to automate block trading.

Overall, Goldman has US$8.2 billion equities trading revenue in the previous year that went down by 27% from the fiscal crisis in 2007. In the same year, its US$3.1 billion equity commission went down by 33%.

According to one Goldman executive responsible for the system's development, clients stated a sense of urgency for trading and it can really be expensive to trade large blocks.

However, by using the new tool, Goldman executives insisted that with human traders' cooperation, they will be able to reach success. Same executives admitted that if it does take off, traders' job to be at risk in the long-term if they cannot transition roles to increase returns for Goldman.