The fallout from the Facebook IPO continues. Part of the problem lies with the exchange in which Facebook trades: The Nasdaq. Glitches in the Nasdaq's systems on the day Facebook started trading caused losses for some big trading firms.
On Wednesday, Nasdaq announced it will provide some compensation to firms for 3 types of trading losses:
So how much is the Nasdaq going to pay, that's our number tonight: $40 million.
RECOMMENDED: Nasdaq plans $40 million payout for Facebook losses
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Erin Burnett OutFront airs weeknights at 7 p.m. ET. Designed to showcase Erin's unique style--casual, smart, and confident--OutFront stays ahead of the headlines, delivering a show that's in-depth and informative.
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