|  | | 2012 News and Press Releases | | |
HEADLINE NEWS:
Nasdaq To Detail Compensation To SEC Next Week-Source
John McCrank
Reuters. June 28, 2012
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EXCERPT: Nasdaq aims to file a plan next week with the U.S. Securities and Exchange Commission detailing how it will compensate market makers who lost money during the botched trading debut of Facebook, according to a person familiar with the matter. The plan may also lay some of the blame for losses sustained by at least one of the market-markets on that firm's own technical problems, according to the person who had been briefed on Nasdaq's plans, but had not seen the proposal. The filing would come more than six weeks after Facebook's May 18 initial public offering on Nasdaq, which is owned by Nasdaq OMX Group, and will be publicly available following the July 4 holiday, said the person, who asked to remain anonymous. The SEC process allows for a public comment period on such a plan. The exchange and the SEC have been working together to make sure the language of the proposal is acceptable, according to this source and another person with knowledge of the situation. Nasdaq did not immediately respond to a request for comment late Wednesday. The SEC declined comment. |
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