You think you had a bad day? Bats Global Markets Inc, the six-year-old equity exchange, saw its debut as a public company go haywire as a system error caused incorrect price quotes and Apple Inc. (AAPL) was halted due to a transaction on its platform. “It’s a pretty inauspicious start,” Sam Ginzburg, a partner and head of capital markets at First New York Securities LLC, a New York-based proprietary trading firm, said today in a phone interview. Data received by Bloomberg showed Bats’s shares, the first ever to be listed on its Lenexa, Kansas-based market, traded for pennies following the initial public offering at $16. Nasdaq OMX Group Inc. later said they were canceled and Bats suspended its own stock until further notice. At the same time, a single trade of 100 shares of Apple, the world’s most valuable company, triggered a circuit breaker that paused the stock. [Bloomberg]
- 28 Aug 2014 at 8:00 AM
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- Bats Global Markets Would Love It If We Could All Agree Those Were Just 'Practice' Trades March 23, 2012
- Every Second Of Jefferies CEO's Ice Bucket Challenge Is Better Than The Last August 27, 2014
- So Did Anyone Lose Any Money At MF Global? August 28, 2014
- Horror In The Hamptons: Rosé Shortage Edition August 27, 2014
- Kyle Bass Not Entirely Thrilled With Paul Singer At The Moment August 28, 2014
- New Investment Vehicle Offers Promising Returns, High-Risk Of Saying "Screw It, I'm Drinking This" August 28, 2014
- If Chris Rokos Isn’t Allowed To Lose $383 Million At Brevan Howard, He Should Damn Well Be Allowed To Lose It Somewhere Else! August 27, 2014
- Investor Relations Exec Charged With Insider Trading Opts For Business Extremely Casual At Court Appearance August 27, 2014
- Fannie Mae Looking For New Home With That New No-Stench-Of-Failure Smell August 28, 2014
- We Come Not To Mourn S&P 2000 But To Bury It (Under Further Gains) August 28, 2014
- Executive Editor
- Bess Levin
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