Nasdaq is taking the first steps towards compensating traders who made losses on Facebook’s IPO day when technical flaws at the exchange delayed the display of trades for the first few hours out of the gate. The exchange is considering compensating traders by offering them discounted trading rates, the Wall Street Journal has heard, part of a $13.7 million packet the exchange has set aside for traders bruised by the snags on May 18. As a result of glitches of various kinds at the Nasdaq end, customer orders were processed at surprise prices, and information was poorly distributed in general, trading firms have complained. Altogether they ran up an estimated $100 million in collective losses for trading firms. Nasdaq could be facing lawsuits because of the events on May 18, but before those hit hopes to make good.
collectionsInnovation FestivalCurrent Issue
World Changing Ideas
New workplaces, new food sources, new medicine--even an entirely new economic system.
The major tech ecosystems that battle for our attention and dollars.
What’s next for hardware, software, and services.
The brave new world of automation, from AI to drones.
How our urban centers are building toward the future.
Most Creative People
See members of our Most Creative People in Business community: leaders who are shaping the future of business in creative ways.
An award-winning team of journalists, designers, and videographers who tell brand stories through Fast Company's distinctive lens.