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
04/17/201408:52:20Stock Futures Flat After Three-Day Rally
04/16/201422:40:44Asian Shares Gain on Yellen Remarks
04/16/201413:52:18U.S. Stocks Rally
04/16/201413:50:30U.S. Stocks Rally in Opening Trade
04/15/201408:52:57U.S. Stock Futures Rise
04/14/201409:15:19U.S. Stock Futures Boosted Higher
04/14/201408:48:37U.S. Stock Futures Slightly Higher
04/11/201419:36:07Riding the Tech Roller Coaster
04/11/201416:31:45Stock-Market Slump Extends to Europe -- Update
04/09/201416:18:44El Pollo Loco IPO to be Led by Jefferies, Morgan Stanley -Reuters
04/08/201413:42:17U.S. Stocks Turn Higher -- 2nd Update
04/07/201408:32:54Tech-Stock Slump Extends to Europe -- Update
03/31/201418:26:19Weibo to List on Nasdaq with Ticker Symbol `WB' -CNBC
03/27/201410:00:07Nasdaq Raises Dividend by 15%
03/27/201409:44:41U.S. Hot Stocks: Hot Stocks to Watch
03/24/201415:28:26Nasdaq Mulls Changes to Cloud Deal with Amazon -FT
03/21/201413:24:2021st Century Fox Shareholders Okay Delisting From Australian...
03/17/201419:20:50Greifeld 2013 Compensation Rises 55.3% -- Update
02/05/201408:10:08Nasdaq Profit Rises on Higher Revenue
01/31/201422:33:05MARKET SNAPSHOT: 'Par' Earnings Not Good Enough After 2013 Stock...

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