Post-Mortem for NASDAQ issues related to the Facebook Inc. (FB) IPO
nasdaqtrader.com
nasdaqtrader.com
> After the calculaton of the FB IPO Cross was completed, but before printing the opening trade, additional order modifications were received by the system, changing the auction order book. As designed, the system recalculated the IPO auction to factor in the new book state. Again, changes were received before the IPO cross could print the opening trade, which resulted in additional re-calculations. This condition persisted, resulting in further delay of the opening print.