Thanks to the Facebook IPO fiasco, the parochial practices of
the U.S. IPO Market are now obvious to all. It's ironic that a
leading technology company built on high speed servers and open
social interaction would allow its public debut to be damaged by
the outdated mechanisms of our IPO market, including NASDAQ's
trading snafus and selective information disclosure. Facebook has
become a dominant social network by encouraging all participants.
Facebook would not permit its social network to be hijacked by a
few bullies. Why do our regulators allow the IPO market to be
destroyed by thuggish institutional traders with advantaged
computers and information? Market participants need a good
Facebook-style hacker session to modernize the trading
inefficiencies and correct the information asymmetries that hurt
the IPO ecosystem.
Read our full report
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.