#Goldman sachs wire instruction manual#
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The purpose of entering these fabricated trades was to conceal and understate the true size of the S&P E-mini futures position within the Trading Account, as the fictitious sales functioned to offset portions of TAYLORвЂ™s actual purchases.

#Goldman sachs wire instruction manual#

Where TAYLOR purchased S&P E-mini futures in the Trading Account via Globex, he then manually entered fictitious S&P E-mini futures sales in the Manual Trade Entry System. TAYLOR recorded multiple false trading entries in the Manual Trade Entry System that were in the opposite direction of the electronic trades he made in the Trading Account. He recorded multiple false entries for S&P E-mini futures trades that he never made in a manual trade entry system (the вЂњManual Trade Entry SystemвЂќ), which was typically intended to be used by traders for recording trades that вЂ“ unlike S&P E-mini futures вЂ“ could not be executed through the Globex electronic trading platform.

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TAYLOR increased the profitability of the Trading Account in order to restore his professional reputation within Goldman Sachs and to increase his performance-based compensation.ДЄt the same time that TAYLOR increased his S&P E-mini futures position, he actively concealed this position from others at Goldman Sachs. In so doing, he amassed a position that far exceeded all trading and risk limits set by Goldman Sachs, not only for individual traders, but for the entire CSFT desk.

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These supervisors had previously informed TAYLOR and other traders on the CSFT desk about risk limits for the CSFT desk and acceptable risk levels and trading limits.Дespite these instructions to reduce the risk in the Trading Account, on December 13, 2007, TAYLOR significantly increased the notional value of his long position in S&P E-mini futures by entering a series of electronic trades through Globex. As a result, he was instructed by his supervisors to reduce the overall risk in the Trading Account. In November 2007, TAYLOR had lost a significant portion of the profits that he had accumulated in the Trading Account earlier that year. TAYLOR traded in S&P E-mini futures using an electronic trading platform called вЂњGlobex.вЂќ Among the products that TAYLOR traded on the CSFT desk were Standard & PoorвЂ™s E-mini futures contracts (вЂњS&P E-mini futuresвЂќ), which are futures contracts tied to the S&P 500 stock index. While employed at Goldman Sachs as a vice president, TAYLOR was a member of the CSFT desk and was responsible for a trading account called the CSFT Equity Volatility Portfolio (the вЂњTrading AccountвЂќ), which included trading in equity derivatives products. Pauley III.ДЄccording to the Information to which TAYLOR pled guilty, and statements made in court proceedings: TAYLOR pled guilty in April 2013 to one count of wire fraud in connection with the scheme, and was sentenced by U.S. (вЂњGoldman SachsвЂќ) and a trader on Goldman SachsвЂ™s Capital Structure Franchise Trading (вЂњCSFTвЂќ) desk, was sentenced today in Manhattan federal court to nine months in prison for fraudulently amassing and concealing an approximately $8.3 billion trading position in an account that TAYLOR managed at Goldman Sachs. If you are making an important or time-critical payment, we recommend you contact your bank first.Preet Bharara, the United States Attorney for the Southern District of New York, announced that MATTHEW TAYLOR, formerly a vice president at Goldman, Sachs & Co. Only your bank can confirm the correct bank account information. Whilst every effort is made to provide accurate data, users must acknowledge that this website accepts no liability whatsoever with respect to its accuracy.

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The SWIFT code tool is provided for informational purposes only. The term SWIFT is often used interchangeably with BIC, which stands for Bank Identifier Code. SWIFT code registrations are handled by the Society for Worldwide Interbank Financial Telecommunication (SWIFT). An 11 digit code refers to a specific branch, while an 8 digit code (or one ending in 'XXX') refers to the bank's head office. These codes are used by banks to process international wire transfers and messages.ДЄll SWIFT codes consist of 8 or 11 characters. SWIFT/BIC codes are used to identify specific banks and branches in international money transfers, making sure your money gets to the right place. Receive Money Send Money Wise for Business About SWIFT Codes