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Nasdaq CEO looks past Facebook IPO bungling
May 22, 2012 / 6:20 PM / 5 years ago

Nasdaq CEO looks past Facebook IPO bungling

NEW YORK, May 22 (Reuters) - The listing business of Nasdaq OMX is in good shape despite the mistakes the exchange operator made in the handling of Facebook’s high-profile initial public offering Friday, Chief Executive Robert Greifeld said on Tuesday.

A technical glitch during the IPO of the social networking giant delayed Facebook’s market debut by half an hour and later led to delays in order confirmations, frustrating traders.

“While clearly we had mistakes in the Facebook listing, we still want to highlight the fact that it was the largest IPO ever and on Friday of last week, we processed over 570 million shares,” Greifeld said at Nasdaq’s annual shareholder meeting in New York.

Greifeld said that on Monday, despite the publicity surrounding the Facebook IPO’s early trading glitches, hard drive maker Western Digital switched over to Nasdaq from NYSE Euronext’s New York Stock Exchange.

The meeting, which lasted about 20 minutes, was sparsely attended and shareholders didn’t ask any questions.

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