Nasdaq CEO has a plan to give millions in compensation to brokers for technical problems that selling shares tenacious
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Nasdaq apologized for manipulating the stock market initial public offering of Facebook and outlined a plan to provide $ 40 million in compensation.
Robert Greifeld, Nasdaq's chief executive, said he and other officials to change "the industry needs an excuse" for the technical problems that have continued the sale last month of mass action by the social network.
Neither apology nor the plan are likely to appease the angry brokers who are pursuing exchange delays and demand and other technical problems cost them tens of clients of millions of people .
The plan was also attacked by rival exchanges. "That is to force the industry to subsidize errors and Nasdaq would be a bad precedent that could have profound implications for markets, investors and the public interest," said NYSE Euronext, Nasdaq's main competitor, in a statement. "We intend to press our views with force that the proposal can not afford to allow a Nasdaq unfair and anticompetitive."
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Securities and Exchange Financial Supervision Commission is considering what happened with the IPO Facebook. Nasdaq systems seems to have yielded to the extent of the sale of shares leading to delays in the start of trading. When shares are trading, many traders were unable to determine the size and value of their positions for more than two hours prior to the general confusion.
actions of Facebook was launched at a price of $ 38 and briefly surged to over $ 45 in early trading hours. They have since fallen hard and sold for less than $ 27 on Thursday morning.
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