Saturday, June 1, 2013

…And Another Goldman Sachs, Former Trader Fined

Dealbook’s Suzanne Craig reports that Goldman Sachs and Glenn Hadden, one of Wall Street’s top traders, have been fined by the CME Group over a Treasury futures trade in 2008.

The CME Group, which runs commodity and futures exchanges, has notified both Goldman and Mr. Hadden, once a trader and partner at Goldman Sachs who now runs the global interest rates desk at Morgan Stanley, that both face fines and other sanctions in connection with the trade, according to a disciplinary action reviewed by The New York Times.

Goldman has been ordered to pay $875,000 and was cited for failure to supervise Mr. Hadden. Mr. Hadden has been ordered to pay $80,000....

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