納斯達克再次停擺，IPO業(yè)務(wù)又懸了
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????Facebook (FB)于2012年5月第一次掛牌交易時，納斯達克系統(tǒng)失靈了，這是真的。納斯達克的電子設(shè)備不堪重負，結(jié)果造成了嚴重的混亂。納斯達克最終遭到了美國證券交易委員會（SEC）1000萬美元的罰款。這也是該委員會針對這類事件所開出的最高罰單。 ????當時，有人預計，F(xiàn)acebook的遭遇會讓今后的新發(fā)行商選擇紐約股票交易所掛牌上市。但是，并沒有出現(xiàn)這種情況。事實上，納斯達克反而迎頭趕了上來。 ????2011年1月-2012年4月期間，在納斯達克上市的首次公開募股（IPO）公司有92家，在紐交所上市的IPO公司有119家。2012年6月到現(xiàn)在，納斯達克掛牌的IPO公司達到了100家，而紐交所為110家。換句話來說，就發(fā)行商數(shù)量而言，納斯達克實際上獲得了更多的市場份額。 ????似乎各大公司已經(jīng)接受了納斯達克(NDAQ)新上市公司業(yè)務(wù)部門給出來的兩個理由：(1)Facebook案列實屬反常，引發(fā)這一故障的罪魁禍首是它創(chuàng)紀錄的交易量，而大多數(shù)其他公司的掛牌上市都不會有這么大的交易量；(2)就算再次達到這樣的交易量也無妨，因為我們已經(jīng)解決了技術(shù)故障。 ????話音剛落，然而就在上周四，納斯達克整個系統(tǒng)再次停擺三個多小時。這次既沒有Facebook或蘋果（Apple）或亞馬遜（Amazon）股票交易，也沒有期權(quán)交易。什么特殊情況都沒有。 ????納斯達克上市業(yè)務(wù)部的員工這回又能拿什么理由來搪塞？不止是那些超級火爆的股票受到了影響，納斯達克系統(tǒng)中的每一家公司都未能幸免于難。而這是兩年以來的第二次重大技術(shù)故障。即便這一次故障得到了解決（截至發(fā)稿時，問題已經(jīng)逐步得到解決），納斯達克又能拿什么來擔保這種故障不會在不久的將來再次出現(xiàn)。難道有關(guān)公司愿意冒這種風險，成為第二個Regado Biosciences嗎？這家公司昨晚宣布了小規(guī)模IPO的定價，但在第一天交易時就發(fā)現(xiàn)自己陷入了進退兩難的境地。 ????納斯達克曾創(chuàng)造過一次奇跡，但是這一次真的是難上加難……（財富中文網(wǎng)）?? |
????When Facebook (FB) first tried to trade as a public company in May 2012, it didn't work. Literally. The NASDAQ machinery was overwhelmed, causing so much chaos that the exchange eventually paid out $10 million in the largest SEC penalty of its kind. ????At the time, some speculated if the Facebook experience would cause future new issuers to choose The New York Stock Exchange. But it didn't come to pass. In fact, NASDAQ actually made up ground. ????Between January 2011 and April 2012, there were 92 NASDAQ IPOs and 119 NYSE IPOs. Between June 2012 and the present, there have been 100 NASDAQ IPOs and 110 NYSE IPOs. In other words, NASDAQ actually has been gaining market share when it comes to number of issuers. ????Seems that companies accepted two arguments being put forth by NASDAQ's (NDAQ) new listings department: (1) The Facebook situation was an anomaly caused by record-breaking volume that would not be applicable to most other listings; and (2) Even if such volume is repeated, we fixed the glitch. ????All of which brings us to today, when NASDAQ's entire system went dark for more than three hours. No trading of Facebook or Apple (AAPL) or Amazon (AMZN). No trading of options. No nothing. ????How on earth are NASDAQ's listings folks supposed to spin this? Every single company on the exchange has been affected, not just the super-popular ones. And this is the second major technical problem in two years. Even if this one is fixed -- and it is beginning to be as of this writing -- what assurances can be made that another isn't just around the corner. Does anyone want to risk becoming the next Regado Biosciences (RGDO), which priced a small IPO last night and found itself stuck in limbo during its first day of trading? ????NASDAQ pulled a rabbit out of its hat once, but this time it will be much more difficult... |
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