Exchanges

12:34 PM
Justin Grant
Justin Grant
Commentary
Connect Directly
Google+
Twitter
RSS
E-Mail
50%
50%

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
Is There a Watson in Your Financial Future?
How artificial intelligence might affect financial services.
Survey Shows an Urgency to Automate the Back Office
Confluence reports numbers are trending up across the board when discussing the need to automate back-office processes.
7 Pillars of Market Surveillance 2.0
Compliance officers are facing flash crashes, insider trading, market manipulation, and more. Here are seven market surveillance and risk management steps that will help compliance officers sleep better at night.
Stop, Rethink & Recalibrate: A View From Asia Pacific
Technology has made the human element of high- and low-touch trading almost indistinguishable. Brokers can no longer compete on price. Instead, they should build toward user experience and value of outcome.
The Sentient Enterprise: Data Driven as a Strategy, Not a Tactic
Can capital markets take a tip from front-to-back-office customer execution efficiencies and apply it to the investment process?
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.
Video
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.