SIGMA X allows you to access superior liquidity, while providing opportunities for improved execution quality within a safe trading environment.
SIGMA X offers a superior source of liquidity, with flatter post-trade markouts and larger average execution size than competing order books, as demonstrated by third party analytics providers
Complementary Order Books
SIGMA X offers 2 separate order books across SIGMA X MTF and SIGMA X Europe MTF:
- The SIGMA X Auction Book is a lit, pre-trade transparent and price-forming order book that facilitates periodic auctions during continuous trading hours. Its unique, patented anti-gaming functionality provides price certainty and price protection.
- The SIGMA X Non Displayed Book is completely dark - no pre-trade information about your order is ever conveyed to other participants. It offers trading on the mid-point of the Primary Best Bid and Offer.
Access to Liquidity Across Europe
SIGMA X MTF was launched in 2011. The addition of SIGMA X Europe MTF, launched at the end of 2020 underscores Goldman Sachs’ broader commitment to servicing it’s clients within the European Union clients, providing comprehensive liquidity solutions to its international clients
Safe Trading Environment
We are committed to providing you a safe trading environment. Within Goldman Sachs, SIGMA X is operated on independent infrastructure and under a separate governance structure from that of other businesses. Any order from the Goldman Sachs franchise is treated identically to that of other Participants.