InfoAnda - Brokers say Nasdaq's Facebook compensation plan not enough |

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

Some fever scanners work, U.S. study finds | 14 October 2010
Hollywood closes off record foreign sales year | 3 January 2009
U.S., Japan stage joint drill amid regional tensions | 3 December 2010

Gadgets add complexity to brutal bank layoffs | | 23 October 2012

Forum Views () Forum Replies ()

Read more with google mobile : Brokers say Nasdaq's Facebook compensation plan not enough |

Edition: U.S. Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom Home Business Business Home Economy Technology Media Small Business Legal Deals Earnings Social Pulse Business Video The Freeland File Aerospace & Defense Markets Markets Home U.S. Markets European Markets Asian Markets Global Market Data Indices M&A Stocks Bonds Currencies Commodities Futures Funds peHUB World World Home U.S. Brazil China Euro Zone Japan Mexico Russia India Insight World Video Reuters Investigates Decoder Politics Politics Home Election 2012 Campaign Polling Political Punchlines Supreme Court Politics Video Tech Technology Home MediaFile Science Tech Video Tech Tonic Social Pulse Opinion Breakingviews Money Money Home Tax Break Lipper Awards 2012 Global Investing MuniLand Unstructured Finance Linda Stern Mark Miller John Wasik James Saft Analyst Research Alerts Watchlist Portfolio Stock Screener Fund Screener Personal Finance Video Money Clip Investing 201 Life Health Sports Arts Faithworld Business Traveler Entertainment Oddly Enough Lifestyle Video Pictures Pictures Home Reuters Photographers Video Reuters TV Reuters News Article Comments (0) Counterparties: Today's Best Links Where America buys its guns America has some 13 million trained hunters, GQ reports in a new investigation into the thousands of local stores that sell guns. Read more at Counterparties Facebook's original sales pitch to investors Why your salary is stagnating Get Counterparties delivered to your inbox! Follow Reuters Facebook Twitter RSS YouTube Read UK's Prince Harry cavorts naked in Vegas party photos | 4:58pm EDT Akin furor knocks Republicans off message, again | 5:37pm EDT Storm Isaac threatens Caribbean, U.S. Republican Convention 3:16pm EDT Syrian army batters parts of Damascus, 47 killed | 4:57pm EDT Apple, Samsung make final pitch to jury 9:35am EDT Discussed 138 Obama’s lead over Romney grows despite voters’ pessimism 122 Romney to announce vice presidential choice Saturday 94 Analysis: Are Israelis tough enough for a long war with Iran? Sponsored Links Pictures Reuters Photojournalism Our day's top images, in-depth photo essays and offbeat slices of life. See the best of Reuters photography. See more | Photo caption Battle for Aleppo The battle for Syria's biggest city. Slideshow Life in Florida As the Republican convention heads to Tampa, a look at life in the pivotal election swing state of Florida. Slideshow Brokers say Nasdaq's Facebook compensation plan not enough Tweet Share this Email Print Related News Citadel urges U.S. to okay Nasdaq's Facebook IPO payback plan Tue, Aug 21 2012 Facebook plumbs new lows as sales curbs start to expire Thu, Aug 16 2012 Knight regains market share, under pressure over rescue Tue, Aug 7 2012 Knight Capital gets $400 million rescue, shares tumble Mon, Aug 6 2012 Knight getting costly $400 million lifeline after trading debacle Mon, Aug 6 2012 Analysis & Opinion Romney’s taxing vice president Why investors should avoid hedge funds Related Topics Tech » Media » Facebook » The falling price of Facebook's stock is seen on a screen reflected in the window of the Nasdaq building in New York August 16, 2012. Credit: Reuters/Lucas Jackson By John McCrank NEW YORK | Wed Aug 22, 2012 2:38pm EDT NEW YORK (Reuters) - Nasdaq OMX Group Inc's $62 million compensation plan for firms harmed by technical problems during Facebook's market debut does not go far enough, broker-dealers said in U.S. Securities and Exchange Commission filings. Firms that facilitated trades for retail clients say they lost upwards of $500 million in the $16 billion Facebook In IPO on May 18, and brokers like Vandham Securities Corp, based in Woodcliff Lake, New Jersey, argued in an August 21 filing Nasdaq should more fully compensate its members. Nasdaq's systems initially delayed the offering, and when trading began at 11:30 a.m. at an opening price of $42, many investors were left in the dark for more than two hours on whether their premarket orders had gone through. Many buy and sell orders did not actually go out until later in the day, while others, including cancellations, were lost altogether. At issue in Nasdaq's proposal is the establishment of a benchmark price of $40.527 at which "a reasonably diligent member" could have acted to mitigate losses, it said. Nasdaq said firms should have realized that some opening orders were not going to be filled when many, but not all orders, were executed at 1:50 p.m. Nasdaq said firms should have cut losses by selling their positions into the market over the next 45 minutes. Triad Securities Corp said in a separate filing on August 20 it believes "Nasdaq's theory of compensation is based on factual error," and should be increased. Both Vandham and Triad said Nasdaq was telling its customers after the market closed on the day of the IPO that orders could be sold at an opening price of $42, so firms should not have been expected to take actions to sell their positions and cut their losses. "Vandham requests that the Commission not approve the portion of Nasdaq's proposal that sets a limit on the amount that customer's losses will be reimbursed, but instead recommends that customers be reimbursed for their losses in full," the broker said in its filing. Nasdaq's proposal also requires firms that sign on agree not to pursue legal action against the exchange. Vandham proposed that firms should be able to opt into the settlement on an order-by-order basis, leaving options open. The all-cash $62 million in reimbursements is $22 million larger than Nasdaq originally proposed. The prior proposal was made up mostly of trading rebates, which drew loud protests from other exchanges and market makers. Hedge fund manager Citadel LLC called for the SEC to approve Nasdaq's $62 million proposal in a filing submitted on Tuesday. The other top retail market-makers involved in the IPO were Swiss bank UBS AG, Knight Capital Group Inc, and Citigroup Inc's Automated Trading Desk. Nasdaq shares lost 2 percent to $23.24 in afternoon trading. (Reporting By John McCrank; Editing by Jeffrey Benkoe) Tech Media Facebook Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above. Edition: U.S. Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom Back to top Reuters.com Business Markets World Politics Technology Opinion Money Pictures Videos Site Index Legal Bankruptcy Law California Legal New York Legal Securities Law Support & Contact Support Corrections Connect with Reuters Twitter Facebook LinkedIn RSS Podcast Newsletters Mobile About Privacy Policy Terms of Use AdChoices Copyright Our Flagship financial information platform incorporating Reuters Insider An ultra-low latency infrastructure for electronic trading and data distribution A connected approach to governance, risk and compliance Our next generation legal research platform Our global tax workstation Thomsonreuters.com About Thomson Reuters Investor Relations Careers Contact Us Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

Other News on Thursday, 23 August 2012
Despite Assange claims, U.S. has no current case against him |
Thousands being moved from China's Three Gorges
Analysis: Brazil's Rousseff boldly shuns base, embraces business |
Japan PM hints at elections in November: Kyodo |
Most of Peru region opposes Newmont mine: poll |
IAEA head not optimistic on access to Iran military site |
Police raid bomb factories in central Nigeria state |
HP posts mega-loss after EDS writedown |
Rambus says to cut 15 percent jobs, reorganizes operations |
Brokers say Nasdaq's Facebook compensation plan not enough |
Analysis: In Apple vs. Samsung, alchemy of damages takes the stage |
PayPal deepens retail drive in Discover payments deal |
Your Money: Trashing your ex on Facebook may cost you |
Taylor Swift's Never Ever breaks music chart record |
UK's Prince Harry cavorts naked in Vegas party photos |
Avril Lavigne, Chad Kroeger engaged to marry |
Jackson nephew made co-guardian of pop star's kids |
Russia dismisses foreign critics of female punk rock band trial |
Syrian army batters parts of Damascus, 47 killed |
U.S., Pakistan must divorce as allies, ex-Pakistan envoy says |
North Korea to send figurehead to summit, not supreme leader: KCNA |
Insight: China ups lobbying game, but faces key tests in U.S., Canada |
Japan PM likely to call November poll, party set for drubbing |
Colombia's Santos plans to shuffle cabinet ministers |
Angola's $17 billion energy drive will help poor: Dos Santos |
Despite Assange claims, U.S. has no current case against him |
Argentine Congress OKs state takeover of investigated firm |
HP posts mega-loss after EDS writedown |
FTC clears Facebook's acquisition of Instagram |
LG says started production of new screen, as Apple plans product launch |
Ancestry.com bids fall short of expectations: sources |
Citigroup slams Nasdaq's Facebook compensation plan |
International Rectifier sees weak first quarter revenue, shares fall |
Consumer Reports says Ford touch-screen system stinks |
Sharp lenders considering $2.5 billion more in loans: media |
Jolie, Pitt daughter to make film debut as young princess |
Actress Natalie Wood's death certificate amended by coroner |
Trial of Gaddafi's son due to start next month |
Insight: Syria casts net wide in search of oil deals |
Egyptian lawyer files complaint against former military head |
Hot-air balloon crashes in Slovenia, four killed |
South Africans mourn victims of platinum mine carnage |
German state bans neo-Nazi groups, raids buildings |
Land disputes threaten South Sudan security: official |
Russia's rights ombudsman decries Pussy Riot verdict |
Pakistani girl accused of blasphemy traumatised: activist |
Microsoft rolls out first new logo in 25 years |
India faces Twitter backlash over Internet clampdown |
Australia fighter jets first to get hi-tech U.S. jammers |
Analysis: NetSpend's value questioned as new card players muscle in |
Naked prince pics ban reveals chastened British press |
John Lennon's killer denied parole for 7th time |
Burton's Frankenweenie opens London film festival |
Russia's rights ombudsman decries Pussy Riot verdict |
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph	VPN on MacOSX	BlogMeter 1.01