# Prof. Richard Sylla on the electronic trading error at Goldman Sachs

1 Faculty News August 21, 2013 ![Marketplace Logo](/sites/default/files/styles/246w/public/assets/images/marketplace_logo.jpg?itok=IIav3Udj)>

Excerpt from [Marketplace](http://www.marketplace.org/topics/business/goldmans-multi-million-dollar-computer-trading-mistake) -- “'What happened was the computer program mistakenly started to sell options at like one dollar an option, when in fact the market price was higher than that,' says [Richard Sylla](http://www.stern.nyu.edu/faculty/bio/richard-sylla), an economics professor at New York University. 'Basically, Goldman sold a lot of options cheaply. And if they have to buy them back, they will lose money because they will have to pay the market price for them.'”

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