Tuesday, May 22, 2012

Nasdaq alters IPO procedures after Facebook glitch

Nasdaq alters IPO procedures after Facebook glitch
 Nasdaq OMX Group Inc said on Monday it is changing its initial public offering trading procedures following glitches in Facebook Inc's market debut at the end of last week that prevented some traders from knowing for hours whether their orders for shares had been completed.

The exchange operator said in a note to traders that modifications to its IPO and halt cross application would prevent the problems that occurred on Friday from recurring

Source: Reuters

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