Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Nasdaq  >  Nasdaq Inc    NDAQ

News SummaryMost relevantAll newsSector newsTweets 

NASDAQ OMX Group, Inc. : Exclusive: Fidelity facing "thousands" hit by Facebook woes

share with twitter share with LinkedIn share with facebook
share via e-mail
05/25/2012 | 05:44am CEST

Fidelity Investments said it was working with "thousands" of brokerage clients affected by trading issues that have engulfed Facebook Inc's much-anticipated initial public offering, according to a source familiar with the situation.

The social media site's IPO has been steeped in controversy since it started trading last Friday.

Almost a week later, many investors have found that their orders for Facebook were not executed at the prices they thought, said advisers, who declined to be identified because they are not allowed to speak to the press.

All Facebook stock trades in clients' accounts from May 18 have been confirmed, a Fidelity spokesman said.

"On behalf of our customers, Fidelity's senior management has been working with the regulators, market makers and NASDAQ to represent all of our customer's trading issues from May 18, and we will continue to do so until we are confident that NASDAQ has done everything it can to mitigate the impact to our customers," the spokesman said.

Nasdaq had all orders, executed or not, returned to member firms by 1:50 p.m. EDT (1750 GMT) on Friday, according to a trading alert issued by the exchange on Monday morning.

Fidelity, a mutual fund company that also runs a large brokerage, issued a special notice to customers who submitted orders to buy Facebook shares on Friday, saying they may have experienced delays in status updates.

"We realize that some customers still have questions about how these delays may have affected their trading activity," Fidelity said in the notice.

"We understand that Nasdaq is working with federal regulators to determine what, if any, accommodation might be made. However, customers should assume that any shares of Facebook stock currently credited to their accounts are owned by them and available for trading."


Facebook's IPO did not go as planned as its sky-high valuation, combined with trading glitches, left the stock languishing below its offering price.

Fidelity said Facebook order glitches were an industry-wide issue that affected many different broker-dealers.

"We will continue to work with the industry to get NASDAQ to come to a resolution that addresses the concerns of our customers," Fidelity said in the notice.

Boston-based Fidelity has 18.3 million brokerage accounts and reported nearly 396,000 average daily commissionable trades in the first quarter. Most of that activity centered on personal investing.

Facebook's shares gained a penny to $32.01 in midday trading on Thursday.

(This story has been refiled to delete paragraph 13 saying Fidelity not available for comment)

(Reporting By Tim McLaughlin; Editing by Walden Siew and Maureen Bavdek)

By Jessica Toonkel and Tim McLaughlin

share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on NASDAQ INC
03/25 NASDAQ : Stockholm Welcomes ISR to First North
03/24 Nasdaq Announces Mid-Month Open Short Interest Positions in Nasdaq Stocks as ..
03/24 DISCOVERY COMMUNICATIONS (NASDAQ : DISCA) and Yukon Men to Ring The Nasdaq Stock..
03/24 Chicago Mayor Rahm Emanuel and Chicago Innovation Awards to Ring The Nasdaq S..
03/24 NASDAQ : Nordic and Baltic exchanges launch voluntary ESG Reporting Guide
03/24 NASDAQ : Stockholm Welcomes ChromoGenics to First North
03/24 NASDAQ : Stockholm Welcomes MIPS to the Main Market
03/24 NASDAQ : Stockholm Welcomes ISR to First North
03/23 The Colon Cancer Alliance to Ring The Nasdaq Stock Market Opening Bell
03/23 LILIS ENERGY, INC. (NASDAQ : LLEX) to Ring The Nasdaq Stock Market Closing Bell
More news
Sector news : Financial & Commodity Market Operators - NEC
03/23 French financial markets watchdog wants special access rules for UK
03/23 U.S. investment banks scout Frankfurt office space market - Helaba
03/22DJICE, S&P to Launch LNG Derivative Contracts -- Update
03/22 LONDON STOCK EXCHANGE : EU to formally veto Deutsche Boerse LSE merger shortly -..
More sector news : Financial & Commodity Market Operators - NEC
News from SeekingAlpha
03/21 What's Up With The Market?
03/09 Was Kenneth Griffin Right? Was IEX A Mistake?
03/07 Nasdaq (NDAQ) Presents At The Raymond James 38th Annual Institutional Investo..
03/01 LONDON STOCK EXCHANGE : Merger With Deutsche Boerse Looks Fatally Wounded, Time ..
02/27 WALL STREET BREAKFAST : LSE-Deutsche Boerse Deal In Danger
Financials ($)
Sales 2017 2 451 M
EBIT 2017 1 127 M
Net income 2017 643 M
Debt 2017 -
Yield 2017 1,94%
P/E ratio 2017 18,69
P/E ratio 2018 16,37
Capi. / Sales 2017 4,75x
Capi. / Sales 2018 4,58x
Capitalization 11 647 M
More Financials
Duration : Period :
Nasdaq Inc Technical Analysis Chart | NDAQ | US6311031081 | 4-Traders
Full-screen chart
Technical analysis trends NASDAQ INC
Short TermMid-TermLong Term
Technical analysis
Income Statement Evolution
More Financials
Mean consensus OUTPERFORM
Number of Analysts 12
Average target price 76,1 $
Spread / Average Target 8,9%
Consensus details
EPS Revisions
More Estimates Revisions
Adena T. Friedman President, Chief Executive Officer, COO & Director
Robert Greifeld Chairman
Michael Ptasznik Chief Financial Officer & EVP-Corporate Strategy
Bradley J. Peterson Chief Information Officer & Executive VP
Hans-Ole Jochumsen Vice Chairman
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
NASDAQ INC4.07%11 647
CME GROUP INC3.93%40 717
More Results