Market protected its suggested $62 thousand comp strategy for companies harm by its messed up IPO of Facebook or myspace (FB).
In a page sent to the Investments and Return Commission payment delayed Wed, Market (NDAQ) known as the payment "fair and reasonable."
The exchange owner informed the SEC that, by law, it only owes dealing companies, or so-called market creators, $500,000 based on SEC boundaries. "The suggested housing share goes well beyond what is required under present Market guidelines and particularly prioritizes the settlement of traders," Nasdaq's mature v. p., Joan Conley, had written in the page.
Related: Market can't move Facebook or myspace troubles
Nasdaq initially provided $40 thousand in May, but a month later, it brought up the payment to the present $62 thousand, which Market CEO Bob Greifeld known as "definitive." At the time, clients openly excoriated Greifeld and Market for under-compensating traders.
In delayed Aug, both Citigroup (C) and UBS (UBS) defined questions to the strategy, as did attorneys for both store traders and exclusive dealing companies.
But most gradually came around. Market said in its page that the "vast greater part of its 560 associates have brought up no questions to the strategy.
Even Dark night Investment Team (KCG) -- one of the most oral competitors -- and Citadel modified their track.
Knight, of course, ran into own dealing bugs in beginning Aug. Some in the market have known as Knight's own nearly critical specialized bugs karmically-induced (Knight CEO Tom Joyce was Nasdaq's most oral and chronic critic).
Related: Facebook or myspace is up 30%, but still risky
Nasdaq's inventory obtained all the floor it missing in the awaken of Facebook's messed up first appearance. Facebook or myspace, however, hasn't been as fortunate. Despite a latest move, Facebook's stocks are still down 40% from its IPO price.
In a page sent to the Investments and Return Commission payment delayed Wed, Market (NDAQ) known as the payment "fair and reasonable."
The exchange owner informed the SEC that, by law, it only owes dealing companies, or so-called market creators, $500,000 based on SEC boundaries. "The suggested housing share goes well beyond what is required under present Market guidelines and particularly prioritizes the settlement of traders," Nasdaq's mature v. p., Joan Conley, had written in the page.
Related: Market can't move Facebook or myspace troubles
Nasdaq initially provided $40 thousand in May, but a month later, it brought up the payment to the present $62 thousand, which Market CEO Bob Greifeld known as "definitive." At the time, clients openly excoriated Greifeld and Market for under-compensating traders.
In delayed Aug, both Citigroup (C) and UBS (UBS) defined questions to the strategy, as did attorneys for both store traders and exclusive dealing companies.
But most gradually came around. Market said in its page that the "vast greater part of its 560 associates have brought up no questions to the strategy.
Even Dark night Investment Team (KCG) -- one of the most oral competitors -- and Citadel modified their track.
Knight, of course, ran into own dealing bugs in beginning Aug. Some in the market have known as Knight's own nearly critical specialized bugs karmically-induced (Knight CEO Tom Joyce was Nasdaq's most oral and chronic critic).
Related: Facebook or myspace is up 30%, but still risky
Nasdaq's inventory obtained all the floor it missing in the awaken of Facebook's messed up first appearance. Facebook or myspace, however, hasn't been as fortunate. Despite a latest move, Facebook's stocks are still down 40% from its IPO price.
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