Goldman Sachs’ SIGMA X MTF to Offer Zero-fee Trading of Periodic Auction and Non-displayed Books

Goldman Sachs’ SIGMA X MTF is set to remove execution fees and offer zero-fee trading on its periodic auction and non-displayed dark and conditional books, according to a story in The TRADE news. The move is expected to improve participants’ access to benign liquidity and remove market barriers, and will be in effect from 1 November 2025.  A spokesperson for Goldman Sachs, said: “We made this change in the best interest of our members, and their many pan-European institutional clients, who come to SIGMA X MTF for access to healthy markets that prioritise superior liquidity, larger average execution size than competing order books, and improved execution quality.”  The change to zero-fee trading will complement the current trading mechanisms available on the multilateral trading facility (MTF) which lower the implicit cost of trading, with the move set to reduce the explicit costs.