Wall Street’s 5 Biggest Tech Fails

As the Knight Capital trading fiasco once again proved, in the race to be first, crashes will happen. But slowing down today’s high-speed marketplace would be akin to going back to the Stone Ages for market participants. High-speed trading is here to stay, and strategies will continue to grow more complex. But over the past two years, there have been a number of high-profile incidents in which an inability to harness the latest technologies that power our markets has cost industry players dearly — both in lost dollars and lost investor trust. Advanced Trading highlights Wall Street’s five biggest tech fails in the past two years.
August 03, 2012


Facebook’s Botched IPO, May 18, 2012

In terms of the money involved and the level of cultural significance that the social network carries globally, Facebook’s $16 billion IPO was one of the biggest technology-related market debuts of all time. But a series of technical failures by Nasdaq left scores of investors wondering whether their trades went through, creating confusion that soon snowballed into a full-blown disaster from which the social networking giant’s stock has yet to recover. As of this writing, Facebook shares were worth nearly 50 percent less than they were after going public at $38 each. Meanwhile, UBS filed a lawsuit against Nasdaq, claiming the exchange operator’s role in the IPO led to a $356 million loss for the firm.

[Facebook's IPO Fail: What Went Wrong on the Nasdaq ]

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