NYSE to Hold Twitter IPO Practice Run

NEW YORK (AP) -- The New York Stock Exchange isn't taking any chances with Twitter's initial public offering.

The Big Board said Friday it would allow trading firms to conduct a dry run of their systems to prepare for Twitter's IPO. The exchange seems to want to avoid the technical problems that marred Facebook's debut on the Nasdaq Stock Exchange in May 2012. The glitches were a major embarrassment for Nasdaq, and resulted in a big fine.

The NYSE test will occur on Saturday, Oct. 26, according to a notice sent out to traders.

Twitter said earlier this week that it had chosen to list with the NYSE over rival Nasdaq. The micro-blogging service is expected to go public sometime in November, possibly before Thanksgiving. It will trade under the ticker "TWTR" on the NYSE.

Twitter's IPO is the biggest technology debut since Facebook's. While Nasdaq won Facebook's listing, one of the biggest IPOs in years, the debut was hit with trading delays and order failures. As a result, the Securities and Exchange Commission in May fined Nasdaq $10 million, the largest ever levied against an exchange.

link


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2690096, ~/Articles/ArticleHandler.aspx, 8/29/2014 2:12:44 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement