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
08/24/201610:00:00Ambassador Dr. Maleeha Lodhi as Chief Guest of Pakistan American...
08/24/201610:00:00American Red Cross to Ring the Nasdaq Stock Market Opening Bell
08/23/201610:00:00TransAct Technologies Incorporated (Nasdaq: TACT) to Ring The...
08/23/201610:00:00Hope Bancorp, Inc. (Nasdaq: HOPE) to Ring The Nasdaq Stock Market...
08/22/201610:00:00Silicon Labs (Nasdaq: SLAB) to Ring The Nasdaq Stock Market Opening...
08/22/201610:00:00Oritani Financial Corp. (Nasdaq: ORIT) to Ring The Nasdaq Stock...
08/21/201622:10:00China 'Selfie' App-Maker Meitu Plans Up to $1 Billion Hong Kong...
08/19/201616:07:46Statement of Changes in Beneficial Ownership (4)
08/19/201610:00:00Xact’s ETFs to Ring The Nasdaq Stock Market Opening Bell
08/19/201610:00:00Edge Therapeutics, Inc. (Nasdaq: EDGE) to Ring The Nasdaq Stock...
08/18/201614:50:00U.S. May Finally Get a Peek at the Books of Alibaba, Baidu
08/18/201612:24:16American Airlines (Nasdaq: AAL) to Ring The Nasdaq Stock Market...
08/18/201610:00:00Memorial Resource Development Corp. (Nasdaq: MRD) to Ring The...
08/18/201609:00:18Nasdaq Extends Market Surveillance Contract with BM&FBOVESPA
08/18/201609:00:00Nasdaq Extends Market Surveillance Contract with BM&FBOVESPA
08/17/201617:11:07Statement of Changes in Beneficial Ownership (4)
08/17/201610:00:00Manhattan Bridge Capital, Inc. (Nasdaq: LOAN) to Ring The Nasdaq...
08/17/201610:00:00Atomera Incorporated (Nasdaq: ATMR) to Ring The Nasdaq Stock...
08/16/201610:00:00Tallinna Kaubamaja Group to Ring The Nasdaq Stock Market Opening...
08/16/201610:00:00Plug Power Inc. (Nasdaq: PLUG) to Ring The Nasdaq Stock Market...

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 1999-2015 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad