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Nasdaq to Boost Payback in Facebook Case to $62 Million Cash -Source

By Jacob Bunge Nasdaq OMX Group Inc. (NDAQ) plans to boost its planned payback package for brokers that lost money trading shares of Facebook Inc. (FB) to $62 million, according to a person familiar with the plan. The revamped compensation scheme, expected to be filed with regulators late Friday, will be all cash, versus the previously planned $40 million plan that incorporated about $27 million in discounted trading fees, the person said. Nasdaq OMX's effort to repay brokers and traders that lost as much as $500 million due to technology problems that hampered Facebook's public market debut comes more than two months after the glitch-ridden May 18 offering. Changes to the plan follow an outcry among brokers that felt Nasdaq OMX's earlier offering in June did not come close to covering their losses. Rival exchanges also objected to offering payback via cheapened trading fees, which they saw as a ploy to lure more market share to Nasdaq OMX's stock markets. -Write to By Jacob Bunge at jacob.bunge@dowjones.com Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Stock News for Nasdaq Stock Market (NDAQ)
DateTimeHeadline
05/17/201300:10:11U.S. Regulators Target Exchanges
05/16/201311:10:15Nasdaq's Options Market Has 'Issues,' Halts Some Trading
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05/13/201314:00:10NYSE Keeps Options Open to Exit Euronext
04/19/201316:00:12WEEK AHEAD: Tech, Energy, Defense to Report Earnings Next Week
04/16/201313:40:07U.S. Exchanges Call for New Dark Pool Curbs
04/12/201300:20:24Nasdaq Cut CEO's Bonus on Facebook IPO Issues
04/11/201323:09:22Nasdaq Cut CEO Greifeld's 2012 Bonus by $542,000 After Facebook...
04/11/201313:10:04ISE Targets Launch for New Options Exchange
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04/08/201321:50:22Citigroup to File Facebook Claim
04/08/201316:38:13Citigroup To File Facebook Claim, Undecided On Suing Nasdaq -Sources
04/02/201316:40:13MARKET SNAPSHOT: Dow And S&P 500 Close At Record Highs
04/02/201315:16:22MARKET SNAPSHOT: U.S. Stock Rally Pushes Dow To Intraday Record
04/02/201311:19:57MARKET SNAPSHOT: U.S. Stocks Rise As Health Insurers Rally
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04/01/201317:20:31Nasdaq OMX to Acquire eSpeed Platform
03/28/201311:20:10CME, Nasdaq In High-Speed Network Venture
03/25/201309:21:52SEC Approves Nasdaq's $62 Million Facebook IPO Compensation Plan

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