Trading Technology

01:58 PM
Justin Grant
Justin Grant
Slideshows
Connect Directly
Google+
Twitter
RSS
E-Mail
50%
50%

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
Previous
2 of 5
Next


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 ]

 

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

Previous
2 of 5
Next
Comment  | 
Print  | 
More Insights
Register for Wall Street & Technology Newsletters
White Papers
Current Issue
Wall Street & Technology - July 2014
In addition to regular audits, the SEC will start to scrutinize the cyber-security preparedness of market participants.
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.