Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
Editorials & Other Articles
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
Economy
In reply to the discussion: STOCK MARKET WATCH -- Friday, 25 May 2012 [View all]Demeter
(85,373 posts)30. Morgan Stanley still has Facebook issues
http://news.yahoo.com/morgan-stanley-still-facebook-issues-source-183544145--sector.html
Morgan Stanley continues to work through trade orders placed on Friday by brokerage customers in Facebook Inc during the social networking company's IPO, two people familiar with the situation said on Thursday.
Morgan Stanley Smith Barney, an affiliate unit of Facebook lead underwriter Morgan Stanley, did not receive from the Nasdaq stock market information about stock trades in a "systematic, orderly way," said one person, who was not authorized to speak publicly on the matter.
Nasdaq said it had all orders, executed or not, returned to member firms by 1:50 p.m. EDT on Friday, according to a trading alert issued by the exchange on Monday morning.
Morgan Stanley on Wednesday told its roughly 17,200 financial advisers that it would review every Facebook order and refund clients who paid too much for their shares. At issue is whether trades were executed and confirmed at the right price.
Morgan Stanley continues to work through trade orders placed on Friday by brokerage customers in Facebook Inc during the social networking company's IPO, two people familiar with the situation said on Thursday.
Morgan Stanley Smith Barney, an affiliate unit of Facebook lead underwriter Morgan Stanley, did not receive from the Nasdaq stock market information about stock trades in a "systematic, orderly way," said one person, who was not authorized to speak publicly on the matter.
Nasdaq said it had all orders, executed or not, returned to member firms by 1:50 p.m. EDT on Friday, according to a trading alert issued by the exchange on Monday morning.
Morgan Stanley on Wednesday told its roughly 17,200 financial advisers that it would review every Facebook order and refund clients who paid too much for their shares. At issue is whether trades were executed and confirmed at the right price.
Edit history
Please sign in to view edit histories.
Recommendations
0 members have recommended this reply (displayed in chronological order):
104 replies
= new reply since forum marked as read
Highlight:
NoneDon't highlight anything
5 newestHighlight 5 most recent replies
RecommendedHighlight replies with 5 or more recommendations
= new reply since forum marked as read
Highlight:
NoneDon't highlight anything
5 newestHighlight 5 most recent replies
RecommendedHighlight replies with 5 or more recommendations