The Nasdaq's plan to compensate brokers who posted losses on Facebook's stock market debut due to technical failures was approved by the Sec, the US financial market supervisory authority. The compensation provided by the Nasdaq is 62 million, higher than the initial offer (40 million) and the three million foreseen by the previous legislation, but insufficient to cover the losses due to the interruption of the trading system, which total around half a billion dollars.
The half-hour delay in the placement of the stock on the day of the Facebook IPO, in fact, meant that trading orders for a total of 30 million were never executed, while some others were executed, but not confirmed.
