Design problems with Nasdaq's technology interfered with Facebook's IPO, the stock exchange's chief executive acknowledged today.
Tests conducted ahead of Friday's highly anticipated offering failed to detect problems with order cancellation, Robert Greifeld told reporters in an interview reported by The Wall Street Journal. He said Nasdaq was "humbly embarrassed" by the problems.
"This was not our finest hour," he said, adding that Nasdaq's board met Saturday to discuss the matter.
However, he maintained that the glitch was not responsible for the plunge in share price the stock experienced. Not long … Read more