Goldman Sachs is shutting down two of its businesses that trade its own money, Reuters reports. The firm is closing its proprietary trading units to comply with the Dodd-Frank financial reform law signed in July.
In 2010, Goldman liquidated most of the positions held by the principal strategies proprietary trading desk in its equities unit. In the current quarter, the bank began closing the global macro proprietary trading desk in its fixed-income division.
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