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Strategies & Market Trends : NDAQ--Nasdaq Stock

NDAQ 85.63

+0.3%

Oct 30 3:59 PM EDT

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From: Lahcim Leinad	5/20/2012 10:33:13 PM
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More pain for NDAQ? Facebook IPO overwhelmed Nasdaq computer systems - International \| Moneyweb “Poor design” in Nasdaq OMX Group Inc.’s software driving auctions for initial public offerings delayed Facebook Inc.’s first day of trading, the exchange operator’s chief executive officer said. Nasdaq's Facebook Problem - WSJ.com Eric Noll, Nasdaq's executive vice president for transaction services, said the company is "rebuilding the entire book" to determine which investors should be compensated due to Nasdaq's system errors. Nasdaq's plan to repay investors would require approval of the Securities and Exchange Commission, exchange executives said. Nasdaq had competed fiercely with rival NYSE Euronext NYX +0.33% for the chance to list the deal. Nasdaq's board conferred Saturday about the problems. Officials said the company is planning to redesign its IPO systems.

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