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Citadel Urges SEC to Accept Nasdaq Settlement on Facebook IPO

Traders Magazine Online News, August 22, 2012

Nina Mehta
Bloomberg

(Bloomberg) -- The U.S. Securities and Exchange Commission should approve Nasdaq OMX Group Inc.'s proposal to pay firms $62 million for losses suffered in Facebook Inc.'s public debut, Citadel LLC said. The Chicago-based hedge fund, whose Citadel Securities executes about 10 percent of U.S. equity volume, told the SEC in a letter yesterday that its Citadel Execution Services unit traded more than $3.8 billion of Facebook stock for customers on May 18.

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