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Citi Says Nasdaq's Facebook Glitch Cost Firm $20 Million

Traders Magazine Online News, August 23, 2012

Staff Report

Add Citigroup to the list of banks crying foul at the way Nasdaq handled automated trading in the May 18 Facebook IPO. The New York-based financial services giant said the technical snafus that marred the launch of trading in the social networking firm's shares amount to 'gross negligence' on the part of the Nasdaq Stock Market.

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