The New York Stock Exchange said it will hold a test run of Alibaba Group Holding's (IPO-ALIB.N) highly anticipated market debut, reflecting the securities industry's focus on risk controls after a raft of technical snafus in recent years. NYSE, owned by Intercontinental Exchange Inc (ICE.N), said in a note to traders on Tuesday it would allow firms to test their trading software ahead of the initial public offering of Alibaba on July 12 for a listing on the New York Stock Exchange. The Chinese e-commerce company's trading debut this summer could be the largest-ever technology IPO in the U.S., possibly eclipsing Facebook Inc's (FB.O) $15 billion share sale in May 2012. Facebook's trading debut on Nasdaq OMX Group's (NDAQ.O) exchange was plagued with software problems as massive volumes of orders came in, setting off a chain of events that market-making firms said cost them a combined $500 million.
via Business News - Yahoo Finance http://ift.tt/1rdizQj
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