20 February 2017
visit nextgenbanking.co.uk

Nasdaq blames human error for botched WhiteHorse IPO

06 December 2012  |  6073 views  |  0 stocks

Nasdaq OMX insists that human error, rather than technology, was behind its latest botched initial public offering (IPO).

WhiteHorse Finance was set to make its debut at 11:00 am on Wednesday but a human error saw the Nasdaq put it back to 3:00 pm.

The exchange had had agreed with WhiteHorse and its underwriter to push trading beyond the 11:00 am slot but instead of extending the IPO, someone on the market surveillance team cancelled it.

According to a Reuters' source: "This was a human error, this wasn't a trading system or a computerised glitch."

The mix up comes as Nasdaq tries to repair the reputational damage caused by its bungled Facebook IPO in May, where a series of technical issues cost investors tens of millions of dollars.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Nasdaq OMX defends $62m Facebook compensation package

Nasdaq OMX defends $62m Facebook compensation package

20 September 2012  |  5500 views  |  0 comments
Citi slams Nasdaq OMX over Facebook IPO compensation

Citi slams Nasdaq OMX over Facebook IPO compensation

23 August 2012  |  5251 views  |  0 comments
SEC could make Nasdaq OMX upgrade systems over Facebook IPO - WSJ

SEC could make Nasdaq OMX upgrade systems over Facebook IPO - WSJ

29 June 2012  |  5690 views  |  0 comments
Facebook IPO fallout continues as investor sues Nasdaq OMX

Facebook IPO fallout continues as investor sues Nasdaq OMX

23 May 2012  |  5957 views  |  0 comments
Facebook float tests Nasdaq resilience as stock opening delayed

Facebook float tests Nasdaq resilience as stock opening delayed

18 May 2012  |  6203 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit capgemini.comvisit dh.comvisit dh.com

Top topics

Most viewed Most shared
IBM and Visa join forces to turn billions of connected devices into points of saleIBM and Visa join forces to turn billions...
14189 views 11 comments | 49 tweets | 82 linkedin
Nesta launches £5 million Open API challengeNesta launches £5 million Open API ch...
10048 views comments | 21 tweets | 18 linkedin
Jaguar embeds payments into digital dashboardJaguar embeds payments into digital dashbo...
9481 views comments | 48 tweets | 55 linkedin
The fintech effect: Banks buy in to benefits of boosting financial well-beingThe fintech effect: Banks buy in to benefi...
8825 views comments | 15 tweets | 11 linkedin
Kevin the bot uses blockchain to offer insurance for P2P transactionsKevin the bot uses blockchain to offer ins...
7566 views comments | 16 tweets | 12 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job