Saturday, 26 May 2012

Market-Makers With Egg On Their Face at Facebook IPO!

It has been reported that there was such a chaotic situation on the Nasdaq on the first trading day of Facebook Shares. The chaos resulted in the four big market-makers of the Facebook's stocks, Citibank's ATD (Automated Trading Desk), UBS AG, Citadel Securities and Knight Capital Group losing a total sum of $115 million, out of which $20 million was lost by Citibank's ATD - I guess Citibank's trading robots would need a complete overhaul after this! Full Story

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