Goldman Sachs automated trading replaces 600 traders with 200 engineers

Re:Goldman Sachs automated trading replaces 600 traders with... by eru on Tuesday February 07, 2017 @05:17PM (#13593447)

Actuaries have quite a high regulatory wall protecting them from other human competitors. But probably not from computers.

(I don't know about the legalities, but the laws requiring companies to have a actuary sign off on stuff probably can be satisfied by having on part time actuary shared between multiple companies sign off on computer generated analysis.)

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Re:Goldman Sachs automated trading replaces 600 traders with... by go_prodev on Tuesday February 07, 2017 @10:09PM (#13595355)

I know in banking, regulators are satisfied with ML models making decisions about bank capitalisation, so long as the models are annually audited by an external auditor (eg. KPMG, EY)

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Re:Goldman Sachs automated trading replaces 600 traders with... by jasonkolb on Tuesday February 07, 2017 @11:08PM (#13595668)

I assume they will need to sign off on the model... I expect to see a lot of this in the future.

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