Goldman’s new terms may as well say '[email protected]*k you' at the top, participant says

Goldman Sachs sends clients updated terms-of-dealing document signalling asymmetric last look is alive and kicking

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In focus: Goldman Sachs ups transparency in its new terms of dealing, but clarity could be surprising for some clients

US investment bank Goldman Sachs has published a new document outlining the bank’s terms of dealing with clients, with disclosure covering last look, pre-hedging, order and information handling, among other topics.

The document, sent to clients on March 23, has been described by market participants as “brutal”, with one saying it “really should say ‘[email protected]*k you’ in capitals at the top”. Others noted that according to the bank’s disclosure, asymmetric last look is “still alive and kicking”, adding

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