On Friday, Nasdaq OMX Group Inc (NDAQ) wrote in a note to traders that it will pay firms on December 31 for the “qualifying claims” from the May 2012 Facebook initial public offering debacle, reported Reuters.
Qualifying claims has come to the tune of $41.6 million, said Nasdaq, while market makers have said they had lost $500 million from the incident.?
For the firms that had been compensation qualifiers had until Monday of this week to inform the exchange they would not sue it up being eligible for the one-time only payment that was voluntary.?
In addition to paying firms, Nasdaq had previously been?fined $10 million by the Securities and Exchange Commission. This represented the biggest one to-date for an exchange. But it has not been alone for technology glitches as other exchanges have undergone problems over the last few years including BATS Global Markets (BATS) and?CBOE Holdings (CBOE) as well as a glitch incurred by the investment firm Goldman Sachs (GS).
On Friday, Nasdaq’s stock closed at $39.92, down 0.06 (0.15%).