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June 7th, 2012
03:51 PM ET

The Number: Nasdaq pays up on Facebook IPO snafu

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:

  • Orders to sell at $42 or less that didn't go through or went through but at a lower price than it should have
  • Orders to buy at $42 that weren't confirmed

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
Filed under: The Number
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