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Client Login
 
About Us
Overview
Our Purpose and Values
People and Leadership
Our People
Leadership
Awards and Recognition
Culture of Client Service
History
Stories of Progress
Locations


OVERVIEW

The Goldman Sachs Group, Inc. is a leading global financial institution that
delivers a broad range of financial services across investment banking,
securities, investment management and consumer banking to a large and
diversified client base that includes corporations, financial institutions,
governments and individuals. Founded in 1869, the firm is headquartered in New
York and maintains offices in all major financial centers around the world.


OUR PURPOSE AND VALUES

We advance sustainable economic growth and financial opportunity. Our purpose
comes to life through our four core values: Client Service, Excellence,
Integrity, and Partnership.


PEOPLE AND LEADERSHIP

Our people are our greatest asset – we say it often and with good reason. It is
only with the determination and dedication of our people that we can serve our
clients, generate long-term value for our shareholders and contribute to the
broader public. Learn more about Our People, Diversity and Inclusion, and our
Business Principles and Standards.

1 of 0

What We Do
Overview
Our Products and Services
Investment Banking
Consumer & Wealth Management
Asset Management
Global Markets
Research


OVERVIEW

We deliver a broad range of financial services across investment banking,
securities, investment management and consumer banking to a large and
diversified client base that includes corporations, financial institutions,
governments and individuals.


OUR PRODUCTS AND SERVICES

Across our divisions, digital platforms, and services, our clients and customers
have access to the resources and reach of a unified global firm to help them
achieve their goals.


INVESTMENT BANKING

Provides advice and services to help organizations with mergers and
acquisitions, financing and other transactions.


CONSUMER & WEALTH MANAGEMENT

We work with clients to achieve investment goals and financial well-being and
bring an innovative approach to traditional consumer banking activities.


ASSET MANAGEMENT

We provide investment management solutions across all major asset classes to a
diverse set of institutional and individual clients.


GLOBAL MARKETS

Providing clients with insight, risk management and execution.


RESEARCH

Our Global Investment Research division provides original, fundamental insights
and analysis for clients in the equity, fixed income, currency and commodities
markets.

1 of 0

Our Commitments
Diversity & Inclusion
Overview
When Women Lead
Making Progress Towards Racial Equity
Vendor Diversity
Launch With GS
Board Diversity
Community Engagement
Overview
10,000 Small Businesses
10,000 Women
Goldman Sachs Gives
Community TeamWorks
Sustainability
Sustainable Finance
Sustainability Report
One Million Black Women
Our Operational Impact


DIVERSITY & INCLUSION

Our people are our greatest asset – we say it often and with good reason. It is
only with the determination and dedication of our people that we can serve our
clients, generate long-term value for our shareholders and contribute to the
broader public.


COMMUNITY ENGAGEMENT

Learn how we put our people and capital to work helping women build businesses,
entrepreneurs create jobs, volunteers improve their communities and help solve
environmental issues.

1 of 0

Insights
Overview
The Daily Check-In
Talks at GS
Exchanges at Goldman Sachs
Top of Mind
Infographics
Briefly...
Goldman Sachs Research
Explore by Topic


OVERVIEW

Goldman Sachs economists and experts share insights on macro trends shaping the
global economy.


THE DAILY CHECK-IN

As the implications of coronavirus reverberate across markets, industries and
the global economy, we’ve launched a daily video series to highlight the latest
insights from Goldman Sachs experts around the world, recorded from wherever
they are working.


TALKS AT GS

Goldman Sachs convenes leading thinkers to share insights and ideas shaping the
world.


EXCHANGES AT GOLDMAN SACHS

Exchanges at Goldman Sachs is a podcast where experts from around the firm
discuss developments shaping industries, markets and the global economy.


TOP OF MIND

Allison Nathan of Goldman Sachs Research dives into macro developments that are
top of mind for investors, executives and policymakers.


INFOGRAPHICS

Explore our insights on the economy, industries and emerging trends through
interactive infographics.


BRIEFLY...

Briefly… provides an in-depth look at trends and events shaping markets and the
economy, with experts inside and outside of Goldman Sachs.


GOLDMAN SACHS RESEARCH

Goldman Sachs Research features original insights on the economy, markets and
industries, drawn from research teams around the world.


EXPLORE BY TOPIC

See all our topics that may interest you.

1 of 0

Careers
Overview
Possibilities Stories
Our People
Divisions
Overview
Asset Management
Conflicts Resolution Group
Consumer and Wealth Management
Controllers
Corporate and Workplace Solutions
Corporate Treasury
Engineering
Executive Office
Finance
Firmwide Strategy
Global Compliance
Global Investment Research
Global Markets
Human Capital Management
Internal Audit
Investment Banking
Legal
Operations
Risk
Tax
Students
Students Overview
Explore
Prepare
Programs and Internships
Apply
Professionals
Professionals Overview
Explore
Prepare
Search Jobs and Apply
Careers Blog


OVERVIEW

At Goldman Sachs, we think who you are makes you better at what you do.


POSSIBILITIES STORIES

See how we are making things possible for our people, clients and communities.


OUR PEOPLE

Meet our people and learn more about our commitment to diversity.


DIVISIONS

Goldman Sachs provides a range of investment banking, investment management and
securities services for our clients. These services are delivered by teams
working across multiple divisions.


STUDENTS

At Goldman Sachs we turn ideas into reality for our clients and communities
around the world.


PROFESSIONALS

We look for experienced professionals with a passion for excellence who believe
in the power of the team, integrity and leadership.


CAREERS BLOG

Stay on top of what’s happening, get information, and learn about our people and
career opportunities.

1 of 0

Investor Relations
Overview
Corporate Governance
Overview
Board and Governance
Sustainability and Other Reporting
Proxy Materials
Proxy Materials
Annual Report
Integrity Hotlines
Financials
Presentations
Creditor Information
Contacts
1 of 0

Media Relations
Overview
Press Releases
In the News
1 of 0

Worldwide
Office Locations >
Australia & New Zealand
Brazil
France
Germany
Greater China
India
Indonesia
Italy
Japan
Korea
Mexico
Poland
Russia
Saudi Arabia
Spain
Switzerland

Our Vendor Program


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 * About Us
    * Overview
    * Our Purpose and Values
    * People and Leadership
       * Our People
       * Leadership
          * Board of Directors
          * Executive Officers
          * Management Committee
      
       * Awards and Recognition
   
    * Culture of Client Service
       * History
       * Stories of Progress
   
    * Locations

 * What We Do
    * Overview
    * Our Products and Services
    * Investment Banking
    * Consumer & Wealth Management
    * Asset Management
    * Global Markets
    * Research

 * Our Commitments
    * Diversity & Inclusion
       * Overview
       * When Women Lead
       * Making Progress Towards Racial Equity
       * Vendor Diversity
       * Launch With GS
          * Overview
          * In the News
          * Our Perspectives
          * Advisory Council
          * The Entrepreneur Cohort
             * Overview
             * The 2021 Cohort
      
       * Board Diversity
   
    * Community Engagement
       * Overview
       * 10,000 Small Businesses
          * United States
          * United Kingdom
          * France
      
       * 10,000 Women
       * Goldman Sachs Gives
       * Community TeamWorks
   
    * Sustainability
       * Sustainable Finance
       * Sustainability Report
       * One Million Black Women
       * Our Operational Impact

 * Insights
    * Overview
    * The Daily Check-In
    * Talks at GS
    * Exchanges at Goldman Sachs
    * Top of Mind
    * Infographics
    * Briefly...
    * Goldman Sachs Research
    * Explore by Topic

 * Careers
    * Overview
    * Possibilities Stories
    * Our People
    * Divisions
       * Overview
       * Asset Management
       * Conflicts Resolution Group
       * Consumer and Wealth Management
       * Controllers
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       * Corporate Treasury
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       * Firmwide Strategy
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       * Risk
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    * Students
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       * Explore
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    * Proxy Materials
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       * Overview
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MARKETS IN FINANCIAL INSTRUMENTS DIRECTIVE


MIFID II DISCLOSURES

The Market in Financial Instruments Directive and Markets in Financial
Instruments Regulation (“MiFID II”) comes into effect from 3 January 2018. MiFID
II replaces the original Markets in Financial Instruments Directive (“MiFID”)
which has been in force since 2007. MiFID II introduces a broad range of
provisions, which includes among them:     

 * Building on MiFID market structure provisions, prescribing rules relating to
   the operation of Regulated Markets, Multilateral Trading Facilities and the
   newly specified Organised Trading Facilities and requiring mandatory venue
   trading for certain in-scope equities and OTC derivatives;

 * Enhancing the Systematic Internaliser regime and pre- and post-trade price
   transparency rules for equity financial instruments and extending these to
   equity-like and non-equity financial instruments;  

 * Expanding the transaction reporting requirements to a broader set of
   financial instruments, introducing quality of execution and top 5 venue
   reporting requirements and commodities position limit monitoring and
   reporting requirements;

 * Enhancing rules on product governance, suitability and appropriateness,
   client assets, inducements (including research) and costs and charges
   disclosure;

 * Introducing obligations relating to indirect clearing and straight through
   processing of cleared derivatives, algorithmic/high frequency trading systems
   and controls and increased record keeping requirements.     

MiFID II requires Goldman Sachs to provide certain information and disclosures
to its clients. These disclosures are set out below. Please note that this
information may be updated from time-to-time.

Disclosures for Goldman Sachs Legal Entities regulated under MiFID II

Complaints Handling Policy [PDF, 120 KB]  

Conflicts of Interest Policy [PDF, 7 KB]  

Information Statement Relating to Risks in Connection with Title Transfer
Collateral Arrangements [PDF, 163 KB]

Third Party Inducements [PDF, 18 KB]

 

Goldman Sachs International

General Disclosures

Systematic Internaliser Commercial Policy – Equity/Equity-like Instruments [PDF,
134 KB]

Systematic Internaliser Commercial Policy – Non-Equities Instruments [PDF, 139
KB]

EMEA Equity Trading Venue – Rules and Regulations


Securities Division and/or Investment Banking Division Clients

EMEA Global Markets Division Best Execution Policy [PDF, 293 KB]

Best Execution RTS 28 Report 2021 – Professional Qualitative Commentary [PDF,
950 KB]

Best Execution RTS 28 Report 2021 – Retail Qualitative Commentary [PDF, 875 KB]

Best Execution RTS 28 Report 2021 – Professional Report [XLSX], 23 KB]

Best Execution RTS 28 Report 2021 – Retail Report [XLSX], 21 KB]

Best Execution RTS 28 Report 2020 – Professional Qualitative Commentary [PDF,
940 KB]

Best Execution RTS 28 Report 2020 – Qualitative Commentary [PDF, 927 KB]

Best Execution RTS 28 Report 2020 – Professional Report [ZIP, 19 KB]

Best Execution RTS 28 Report 2020 – Retail Report [ZIP, 16 KB]

Best Execution RTS 28 Best Efforts Report 30 April 2018 – Professional
Report [PDF, 674 KB]

Best Execution RTS 28 Best Efforts Report 30 April 2018 – Retail Report [PDF,
617 KB]

Best Execution RTS 28 Report 30 April 2019 – Professional Report [PDF, 564 KB]

Best Execution RTS 28 Report 30 April 2019 – Retail Report [PDF, 526 KB]

Best Execution RTS 28 Report 30 April 2019 – Retail Report – RFQ Venues [PDF,
322 KB]

Best Execution RTS 27 Execution Quality Report Q1 (Jan) 2018 – GSI Revised
Report [ZIP, 15 MB]

Best Execution RTS 27 Execution Quality Report Q1 (Feb) 2018 – GSI Revised
Report [ZIP, 16 MB]

Best Execution RTS 27 Execution Quality Report Q1 (Mar) 2018 – GSI Revised
Report [ZIP, 16 MB]

Best Execution RTS 27 Execution Quality Report Q2 (Apr) 2018 [ZIP, 14 MB]

Best Execution RTS 27 Execution Quality Report Q2 (May) 2018 [ZIP, 16 MB]

Best Execution RTS 27 Execution Quality Report Q2 (Jun) 2018 [ZIP, 17 MB]

Best Execution RTS 27 Execution Quality Report Q3 (Jul) 2018 [ZIP, 26 MB]

Best Execution RTS 27 Execution Quality Report Q3 (Aug) 2018 [ZIP, 27 MB]

Best Execution RTS 27 Execution Quality Report Q3 (Sep) 2018 [ZIP, 25 MB]

Best Execution RTS 27 Execution Quality Report Q4 (Oct) 2018  [ZIP, 28 MB]

Best Execution RTS 27 Execution Quality Report Q4 (Nov) 2018 [ZIP, 26 MB]

Best Execution RTS 27 Execution Quality Report Q4 (Dec) 2018 [ZIP, 23 MB]

Best Execution RTS 27 Execution Quality Report Q1 (Jan) 2019 [ZIP, 28 MB]

Best Execution RTS 27 Execution Quality Report Q1 (Feb) 2019 [ZIP, 27 MB]

Best Execution RTS 27 Execution Quality Report Q1 (Mar) 2019 [ZIP, 29 MB]

Best Execution RTS 27 Execution Quality Report Q2 (Apr) 2019 [ZIP, 21 MB]

Best Execution RTS 27 Execution Quality Report Q2 (May) 2019 [ZIP, 23 MB]

Best Execution RTS 27 Execution Quality Report Q2 (Jun) 2019 [ZIP, 22 MB]

Best Execution RTS 27 Execution Quality Report Q3 (Jul) 2019 [ZIP, 25 MB]

Best Execution RTS 27 Execution Quality Report Q3 (Aug) 2019 [ZIP, 24 MB]

Best Execution RTS 27 Execution Quality Report Q3 (Sep) 2019 [ZIP, 22 MB]

Best Execution RTS 27 Execution Quality Report Q4 (Oct) 2019 [ZIP, 29  MB]

Best Execution RTS 27 Execution Quality Report Q4 (Nov) 2019 [ZIP, 27  MB]

Best Execution RTS 27 Execution Quality Report Q4 (Dec) 2019 [ZIP, 24  MB]

Best Execution RTS 27 Execution Quality Report Q1 (Jan) 2020 [ZIP, 28  MB]

Best Execution RTS 27 Execution Quality Report Q1 (Feb) 2020 [ZIP, 26  MB]

Best Execution RTS 27 Execution Quality Report Q1 (Mar) 2020 [ZIP, 34 MB] 

Best Execution RTS 27 Execution Quality Report Q2 (Apr) 2020 [ZIP, 20 MB]

Best Execution RTS 27 Execution Quality Report Q2 (May) 2020 [ZIP, 20 MB]

Best Execution RTS 27 Execution Quality Report Q2 (Jun) 2020 [ZIP, 30 MB]

Best Execution RTS 27 Execution Quality Report Q3 (Jul) 2020 [ZIP, 31 MB]

Best Execution RTS 27 Execution Quality Report Q3 (Aug) 2020 [ZIP, 29 MB]

Best Execution RTS 27 Execution Quality Report Q3 (Sep) 2020 [ZIP, 32 MB]

Cash Equity Venues in EMEA [PDF, 461 KB]

FICC Venues in EMEA [PDF, 190 KB]

Information on Nature and Risks of Investments for Professional Clients [PDF,
208 KB]

Goldman Sachs International, Goldman Sachs Bank Europe SE and Goldman Sachs
Paris Inc. et Cie Cost Disclosure Statement (Direct Clearing)  [PDF, 431 KB]

Goldman Sachs International Clearing Member Risk Disclosures (Direct and
Indirect Clearing) [PDF, 358 KB]

Goldman Sachs International Direct Client Risk Disclosures (Indirect
Clearing) [PDF, 376 KB]

Goldman Sachs International Clearing Member Indirect Clearing General Terms and
Conditions   [PDF, 192 KB]

Goldman Sachs International Direct Client Indirect Clearing General Terms and
Conditions  [PDF, 312 KB]

Summary of the Product Governance Policy [PDF, 82 KB]

Summary of the Goldman Sachs Allocation Policy [PDF, 80 KB]


Private Wealth Management (PWM) Clients

 * Private Wealth Management Best Execution Policy for Goldman Sachs
   International, Goldman Sachs Bank Europe SE , Goldman Sachs International
   Bank and any other trading subsidiary of The Goldman Sachs Group, Inc. in the
   European Economic Area
   * English
   * Italian
   * Spanish
 * Private Wealth Management Product Information and Risks Booklet
   * English
   * Italian
   * Spanish

 

Goldman Sachs International Bank

EMEA Global Markets Division Best Execution Policy [PDF, 293 KB]

Best Execution RTS 28 Report 2021 – Qualitative Commentary [PDF, 549 KB]

Best Execution RTS 28 Report 2021 – Professional Report -SFTs [PDF, 13 KB]

Best Execution RTS 28 Report 2020 – Qualitative Commentary [PDF, 736 KB]

Best Execution RTS 28 Report 2020 – Professional Report [ZIP, 11 KB]

Best Execution RTS 28 Report 2020 – Professional Report - SFTs [ZIP, 11 KB]

Best Execution RTS 28 Best Efforts Report 30 April 2018 – Professional
Report [PDF, 514 KB]

Best Execution RTS 28 Report 30 April 2019 – Professional Report [PDF, 476 KB]

Best Execution RTS 28 Report 30 April 2019 – Professional Report - SFTs [PDF,
412 KB]

Best Execution RTS 27 Execution Quality Report Q1 2018 – Sigma X MTF Revised
Report [ZIP, 6 MB]

Best Execution RTS 27 Execution Quality Report Q2 2018 – Sigma X MTF [ZIP, 8 MB]

Best Execution RTS 27 Execution Quality Report Q3 2018 – Sigma X MTF [ZIP, 9 MB]

Best Execution RTS 27 Execution Quality Report Q4 2018 – Sigma X MTF [ZIP, 10
MB]

Best Execution RTS 27 Execution Quality Report Q1 2019 – Sigma X MTF [ZIP, 11
MB]

Best Execution RTS 27 Execution Quality Report Q2 2019 – Sigma X MTF [ZIP, 10
MB]

Best Execution RTS 27 Execution Quality Report Q3 2019 – Sigma X MTF [ZIP, 10
MB]

Best Execution RTS 27 Execution Quality Report Q4 2019 – Sigma X MTF [ZIP, 10
MB]

Best Execution RTS 27 Execution Quality Report Q1 2020 – Sigma X MTF [ZIP, 10
MB]

Best Execution RTS 27 Execution Quality Report Q2 2020 – Sigma X MTF [ZIP, 9 MB]

Best Execution RTS 27 Execution Quality Report Q3 2020 – Sigma X MTF [ZIP, 11
MB]

Cash Equity Venues in EMEA [PDF, 461 KB]

FICC Venues in EMEA [PDF, 190 KB]

Information on Nature and Risks of Investments for Professional Clients [PDF,
208 KB]

 

Goldman Sachs Asset Management International (GSAMI)

GSAMI Execution Policy [PDF, 417 KB]

Best Execution RTS 28 Report 2021 – Qualitative Commentary [PDF, 743 KB]

Best Execution RTS 28 Report 2021 – Professional Report [XLSX], 22 KB]

Best Execution RTS 28 Report 2021 – Professional Report – RFQ Venues [XLSX], 18
KB]

Best Execution RTS 28 Report 2021 – Professional Report – SFT [XLSX], 18 KB]

Best Execution RTS 28 Report 2021 – Professional Report – SFT RFQ [XLSX], 14 KB]

Best Execution RTS 28 Report 2020 – Qualitative Commentary [PDF, 839 KB]

Best Execution RTS 28 Report 2020 – Professional Report [ZIP, 20 KB]

Best Execution RTS 28 Report 2020 – SFT Report [ZIP, 12 KB] 

Best Execution RTS 28 Report 2020 – Professional Report – RFQ Venues [ZIP, 15
KB]

Best Execution RTS 28 Best Efforts Report 30 April 2018 – Professional
Report [PDF, 494 KB]

Best Execution RTS 28 Report 30 April 2019 – Professional Report [PDF, 692 KB]

Best Execution RTS 28 Report 30 April 2019 – Professional Report - SFTs [PDF,
494 KB]

Best Execution RTS 28 Report 30 April 2019 – Professional Report – RFQ
Venues [PDF, 325 KB]

 

Goldman Sachs Bank Europe SE

EMEA Equity Trading Venue – Rules and Regulations

EMEA Global Markets Division Best Execution Policy [PDF, 293 KB]

Best Execution RTS 28 Report 2021 – Professional Qualitative Commentary [PDF,
940 KB]

Best Execution RTS 28 Report 2021 – Retail Qualitative Commentary [PDF, 863 KB]

Best Execution RTS 28 Report 2021 – Professional Report [PDF, 25 KB]

Best Execution RTS 28 Report 2021 – Retail Report [PDF, 21 KB]

Best Execution RTS 28 Report 2020 – Professional Qualitative Commentary [PDF,
925 KB]

Best Execution RTS 28 Report 2020 – Qualitative Commentary [PDF, 901 KB]

Best Execution RTS 28 Report 2020 – Professional Report [ZIP, 16 KB]

Best Execution RTS 28 Report 2020 – Retail Report [ZIP, 14 KB]

Best Execution RTS 28 Best Efforts Report 30 April 2018 – Professional Report
[PDF, 692 KB]

Best Execution RTS 28 Best Efforts Report 30 April 2018 – Retail Report [PDF,
676 KB]

Best Execution RTS 28 Report 30 April 2019 – Professional Report [PDF, 516 KB]

Best Execution RTS 28 Report 30 April 2019 – Retail Report [PDF, 526 KB]

Best Execution RTS 27 Execution Quality Report Q1 2019 [PDF, 56 KB]

Best Execution RTS 27 Execution Quality Report Q2 2019 [ZIP, 475 KB]

Best Execution RTS 27 Execution Quality Report Q3 2019 [ZIP, 500 KB]

Best Execution RTS 27 Execution Quality Report Q4 2019 [ZIP, 494 KB]

Best Execution RTS 27 Execution Quality Report Q1 2020 [ZIP, 218 KB]

Best Execution RTS 27 Execution Quality Report Q2 2020 [ZIP, 298 KB]

Best Execution RTS 27 Execution Quality Report Q3 2020 [ZIP, 660 KB]

Cash Equity Venues in EMEA [PDF, 461 KB]

FICC Venues in EMEA [PDF, 190 KB]

Information on Nature and Risks of Investments for Professional Clients [PDF,
208 KB]

Goldman Sachs Bank Europe SE Clearing Member Risk Disclosures (Direct and
Indirect Clearing) [PDF, 373 KB]

Goldman Sachs Bank Europe SE Direct Client Risk Disclosures (Indirect Clearing)
[PDF, 328 KB]

Goldman Sachs Bank Europe SE Direct Client Indirect Clearing General Terms and
Conditions [PDF, 194 KB]

Goldman Sachs Bank Europe SE Clearing Member Indirect Clearing General Terms and
Conditions [PDF, 341 KB]

Important Information for IBD Retail Clients [PDF, 34 KB]

Important Information for IBD Professional Clients [PDF, 34 KB]

Important Information for GM Clients [PDF, 216 KB]

Systematic Internaliser Commercial Policy – Equity/Equity-like Instruments [PDF,
28 KB]

Systematic Internaliser Commercial Policy – Non-Equity Instruments [PDF, 135 KB]

Wichtige Informationen für PWM Kunden [PDF, 228 KB]

Summary Client Asset Protection PWM [PDF, 122 KB]

 

Goldman Sachs Paris et Cie

EMEA Global Markets Division Best Execution Policy [PDF, 293 KB]

Best Execution RTS 28 Report 2021 – Qualitative Commentary [PDF, 460 KB]

Best Execution RTS 28 Report 2021 – Professional Report [PDF, 11 KB]

Best Execution RTS 28 Report 2020 – Qualitative Commentary [PDF, 457 KB]

Best Execution RTS 28 Report 2020 – Professional Report [ZIP, 9 KB]

Best Execution RTS 28 Best Efforts Report 30 April 2018 – Professional
Report [PDF, 556 KB]

Best Execution RTS 28 Report 30 April 2019 – Professional Report  [PDF, 483 KB]

Cash Equity Venues in EMEA [PDF, 461 KB]

FICC Venues in EMEA [PDF, 190 KB]

Information on Nature and Risks of Investments for Professional Clients [PDF,
208 KB]

Goldman Sachs Paris et Cie Clearing Member Risk Disclosures (Direct Clearing)
[PDF, 366 KB]

 

Other Goldman Sachs Entities

Goldman Sachs & Co. LLC – Clearing Member Risk Disclosures and General Terms and
Conditions [PDF, 267 KB] 

Goldman Sachs & Co. LLC – Direct Client Risk Disclosures and General Terms and
Conditions [PDF, 251 KB] 

Goldman Sachs Bank AG - Direct Client Disclosure Document [PDF, 488 KB]

 

 

 

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