Goldman looks to ban some chat services used by traders

Goldman Sachs Group Inc. is planning to ban traders from using some computer-messaging services in a bid to protect proprietary information at the heart of its sales-and-trading operation. Under a new policy, the Wall Street firm won't allow person-to-person communication over instant-messaging services created by Bloomberg LP, Yahoo Inc., AOL Inc. and other third-party providers including Pivot Inc., according to a draft of a memo reviewed by The Wall Street Journal. Pivot is a unit of CME Group Inc. Bloomberg News Goldman Sachs wants to protect its proprietary information.

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