Goldman Sachs’ global crossing network
offering consists of SIGMA X (US), SIGMA (Europe) SIGMA X (Japan), and SIGMA X
(Australia). In the US, Goldman Sachs offers both continuous and point-in-time matching
Goldman Sachs SIGMA X crossing network is
designed to be 100% anonymous. Counterparty information will never be displayed
or revealed. To prevent gaming, the client can set a minimum execution quantity
on their orders, which would limit them to crossing with orders they consider
Goldman Sachs ET has a diverse client base
including broker/dealers, institutions and hedge funds. In Asia, SIGMA X dark
liquidity is available in Australia and Japan.
Order types and matching logic
Matching is on a price-timepriority
Japan is in the process of being upgraded, and will support limit, limit IOC
and relative price orders (e.g., mid-or-better, peg-bid, peg-ask). SIGMA X
Australia is only accessible via algorithm, and only crosses at the mid.