{"id":29195,"date":"2012-05-25T07:44:16","date_gmt":"2012-05-25T11:44:16","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=29195"},"modified":"2012-05-25T10:53:39","modified_gmt":"2012-05-25T14:53:39","slug":"nasdaq-glitch-causes-losses-at-hedge-fund-securities-arm","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/05\/2012\/nasdaq-glitch-causes-losses-at-hedge-fund-securities-arm.html","title":{"rendered":"Nasdaq Glitch Causes Losses At Hedge Fund Market-Making Arm"},"content":{"rendered":"<p><a href=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2012\/05\/FacebookIPO-610x426.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-29197\" title=\"FacebookIPO-610x426\" src=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2012\/05\/FacebookIPO-610x426-300x212.jpg\" alt=\"\" width=\"192\" height=\"136\" srcset=\"https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2012\/05\/FacebookIPO-610x426-300x212.jpg 300w, https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2012\/05\/FacebookIPO-610x426.jpg 630w\" sizes=\"auto, (max-width: 192px) 100vw, 192px\" \/><\/a>New York (HedgeCo.net) &#8211; A technical glitch botching Facebook Inc.&#8217;s initial public offering on the Nasdaq stock exchange, has caused Citadel Securities&#8217; market-making business to lose around $30 million, according to Reuters.<\/p>\n<p>Luckily, Citadel&#8217;s\u00a0hedge fund\u00a0was not affected, the losses came when Citadel\u00a0honored\u00a0trades that were canceled or changed during a period of around two hours on Friday following Facebook&#8217;s market debut which led to orders not being confirmed.<\/p>\n<p>Electronic trading company, Knight Capital Group, said that it had suffered a pre-tax loss of $30 million to $35 million. Knight is demanding compensation for it&#8217;s losses and said it would take legal action against Nasdaq if necessary.<\/p>\n<p>&#8220;It was not clear if Citadel was planning to pursue legal remedies.&#8221; Reuters said.<\/p>\n<p>Alex Akesson<br \/>\nEditor for <a title=\"hedge funds\" href=\"http:\/\/www.hedgeco.net\">HedgeCo.net<\/a><br \/>\n<a href=\"mailto:alex@hedgeco.net\">alex@hedgeco.net<\/a><br \/>\n<a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\">HedgeCo.Net<\/a> is a premier <a title=\"hedge fund database\" href=\"http:\/\/www.hedgeco.net\">hedge fund database<\/a> and community for qualified and accredited investors only. Membership in <a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\">HedgeCo.net<\/a> is FREE and EASY. We also offer FREE LISTINGS for <a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\">Hedge Funds<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New York (HedgeCo.net) &#8211; A technical glitch botching Facebook Inc.&#8217;s initial public offering on the Nasdaq stock exchange, has caused Citadel Securities&#8217; market-making business to lose around $30 million, according to Reuters. Luckily, Citadel&#8217;s\u00a0hedge fund\u00a0was not affected, the losses came [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,16023],"tags":[],"class_list":["post-29195","post","type-post","status-publish","format-standard","hentry","category-hedgeco-news","category-technology"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/29195","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=29195"}],"version-history":[{"count":11,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/29195\/revisions"}],"predecessor-version":[{"id":29198,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/29195\/revisions\/29198"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=29195"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=29195"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=29195"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}