12:34 PM
Justin Grant
Justin Grant
Connect Directly

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

As Nasdaq deals with the fallout of Facebook's IPO flop, Bloomberg's Matt Miller tried to get some answers from Cuttone & Company's Keith Bliss

As of Monday, a large number of investors still reportedly didn't know whether orders they placed Friday to buy or sell Facebook stock went through.

Demand for the stock was large by historical standards, setting a record for trading volume following a public debut. But three days after the historic IPO, Reuters said Morgan Stanley's brokerage arm is still trying to work orders to buy and sell the stock.

Meanwhile Nasdaq is still dealing with the fallout from the debacle and there have been calls for the exchange operator to make up some of the losses for Facebook's botched public debut.

So what really went wrong with this IPO? Bloomberg's Matt Miller discussed what went wrong on the Nasdaq with Keith Bliss, the senior vice president of institutional broker Cuttone & Company:

As the Senior Editor of Advanced Trading, Justin Grant plays a key role in steering the magazine's coverage of the latest issues affecting the buy-side trading community. Since joining Advanced Trading in 2010, Grant's news analysis has touched on everything from the latest ... View Full Bio
Comment  | 
Print  | 
More Insights
More Commentary
A Wild Ride Comes to an End
Covering the financial services technology space for the past 15 years has been a thrilling ride with many ups as downs.
The End of an Era: Farewell to an Icon
After more than two decades of writing for Wall Street & Technology, I am leaving the media brand. It's time to reflect on our mutual history and the road ahead.
Beyond Bitcoin: Why Counterparty Has Won Support From Overstock's Chairman
The combined excitement over the currency and the Blockchain has kept the market capitalization above $4 billion for more than a year. This has attracted both imitators and innovators.
Asset Managers Set Sights on Defragmenting Back-Office Data
Defragmenting back-office data and technology will be a top focus for asset managers in 2015.
4 Mobile Security Predictions for 2015
As we look ahead, mobility is the perfect breeding ground for attacks in 2015.
Register for Wall Street & Technology Newsletters
White Papers
Current Issue
Wall Street & Technology - Elite 8, October 2014
The in-depth profiles of this year's Elite 8 honorees focus on leadership, talent recruitment, big data, analytics, mobile, and more.
Exclusive: Inside the GETCO Execution Services Trading Floor
Exclusive: Inside the GETCO Execution Services Trading Floor
Advanced Trading takes you on an exclusive tour of the New York trading floor of GETCO Execution Services, the solutions arm of GETCO.