Goldman Sachs Traders Had 8 Days Of Losses In Third-quarter

Goldman Sachs Group Inc. has reduced its hedge fund footprint to further comply with the Volcker rule, according to its latest filing with the Securities and Exchange Commission. Since March 2012, Goldman Sachs has redeemed approximately $2.55 billion of its interest in hedge funds, including approximately $285 million in the third-quarter. The company's credit exposure to Russia increased to $614 million in the third-quarter, up from $473 million in the second-quarter. The U.S. has drawn sanctions against Russia over the Ukraine conflict. Market exposure in Russia was up $802 million from $624 million. In the third quarter Goldman Sachs traders had eight days of losses, with daily trading revenue greater than $100 million, according to the filing.

Copyright © 2014 MarketWatch, Inc.