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
One Size Fits Nobody in End User Services
How building profiles from employees' roles and behaviors can help optimize your end user services.
'Enlightened' Non-IT Execs More Likely To Run Secure Organization
Do senior executives understand their role in data security? On the whole, unsurprisingly, no.
No Screwups, Please, We’re Banks
Changing a bank's culture is not going to happen overnight, but having the right tools and levers in house will surely make a big difference over time.
You’re Doing BYOD Wrong: These Numbers Prove It
Almost 40% of users who connect personal mobile devices to corporate networks have no lock-screen mechanism set in place.
Citibank Brazil Deploys Award-Winning BPM Solution: Now What?
Citibank Brazil automated commercial customer onboarding and reduced cycle time by 70%. But how can a global organization harness the successes of its islands of solutions?
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.