ADVFN - Advanced Financial Network.
HOME» NASDAQ » N » NDAQ Stock Price » NDAQ Stock News

Nasdaq Stock Market Share News

 The Nasdaq Omx Grp. (mm) Stock Price
NDAQ Stock Price
 The Nasdaq Omx Grp. (mm) Stock Chart
NDAQ Stock Chart
 The Nasdaq Omx Grp. (mm) Stock News
NDAQ Stock News
 The Nasdaq Omx Grp. (mm) Company Information
NDAQ Company Information
 The Nasdaq Omx Grp. (mm) Stock Trades
NDAQ Stock Trades

NYSE Criticizes Nasdaq's Facebook IPO Compensation Plan

NYSE Euronext (NYX) sharply criticized rival exchange Nasdaq OMX Group Inc.'s (NDAQ) plan to compensate some financial firms after the ill-fated Facebook Inc. (FB) initial public offering, calling Nasdaq's plan "unjust" and an anti-competitive potential grab for business. Nasdaq said earlier Wednesday that it planned for a one-time payout of around $40 million to compensate some of those who lost money in Facebook's IPO, which had been plagued with glitches on its first day of trading. The plan involves a mix of cash and trading discounts aimed to easing Nasdaq's reputational damage. "Such a tactic would potentially strongly incent customers to divert order flow to Nasdaq in order to receive compensation to which they are entitled, and allow Nasdaq to reap a benefit from market-share gains they would not have otherwise received," NYSE said. It further called the plan "tantamount to forcing the industry to subsidize Nasdaq's missteps and would establish a harmful precedent that could have far-reaching implications for the markets, investors and the public interest." It said it intends to fight against the Nasdaq plan. The planned payouts are subject to approval from the Securities and Exchange Commission and fall well below the $100 million or more that financial firms said they lost because of the technical problems. Problems with Nasdaq OMX exchange systems handling the May 18 opening of Facebook shares delayed the hugely anticipated debut by 30 minutes and left brokers with millions of shares' worth of unconfirmed trades. Firms didn't learn the results of their orders until more than two hours after the stock opened, and some were caught by surprise when they were notified by Nasdaq of unexpected positions in the social-networking company's newly listed stock. Nasdaq said it has hired International Business Machines Corp. (IBM) to review its trading systems. Write to Ben Fox Rubin at ben.rubin@dowjones.com

Stock News for Nasdaq Stock Market (NDAQ)
DateTimeHeadline
04/24/201517:07:48Nasdaq Composite, S&P 500 Close at New Highs
04/24/201516:05:00Nasdaq Announces Mid-Month Open Short Interest Positions in NASDAQ...
04/24/201515:44:07U.S. Technology Stocks Extend Gains
04/24/201512:16:18U.S. Technology Stocks Extend Gains
04/24/201511:48:39Photo Release -- Nasdaq Welcomes Apigee Corporation (Nasdaq:...
04/24/201510:30:36U.S. Technology Stocks Extend Gains
04/24/201510:20:18Tantech Holdings Ltd. (Nasdaq: TANH) to Ring The Nasdaq Stock...
04/24/201510:14:56Google Inc. (Nasdaq: GOOG) and YouTube, Inc. to Ring The Nasdaq...
04/24/201510:07:00NASDAQ OMX Group Given New $56.00 Price Target at Barclays (NDAQ)
04/24/201509:00:56U.S. Stock Futures Rise, Putting Nasdaq Composite on Track For...
04/24/201506:00:00Apigee Corporation (Nasdaq: APIC) to Ring The Nasdaq Stock Market...
04/24/201504:49:30NASDAQ OMX Group Stock Rating Lowered by Portales Partners (NDAQ)
04/23/201520:07:08Nasdaq Climbs to a Record, Again Fueled by Tech
04/23/201520:03:17Nasdaq Surge Lifts Internet Boosters of the Past
04/23/201517:02:33Nasdaq Composite Closes at Record High
04/23/201515:47:20Nasdaq Composite Rises Above March 2000 Record Close
04/23/201514:00:15Nasdaq Composite Rises Above March 2000 Record Close
04/23/201513:25:31Nasdaq Composite Rises Above March 2000 Record Close
04/23/201513:20:53U.S. Stocks Edge Lower
04/23/201513:11:04Nasdaq's Profit Drops on Expenses--2nd Update

Nasdaq Stock Market and other NASDAQ stock quotes are delayed by at least 20 minutes.
All other stock price and quote data is delayed by at least 15 minutes unless otherwise stated. By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad