News & Events

Goldman Retreats From Options as Stock Derivatives Trading Struggles

November 3, 2017

Waning stock volatility is pressuring the equity derivatives business, suppressing revenue and driving traders out of what was once a key Wall Street moneymaker.

“For the most part, you’re not going to get wealthy like you could in the late ‘90s or early 2000s” in equity derivatives, said Arthur Hayes, the Hong Kong-based co-founder and chief of Bitcoin Mercantile Exchange, who traded derivatives at Citigroup Inc. and Deutsche Bank. “In cryptos, you actually get to do what you like to do: trade.”