Feeds

NYSE preps for MILLIONS of trades in Twitter IPO stress-tests

We're not doing a NASDAQ style IPOcalypse, vows rival stock exchange

Eight steps to building an HP BladeSystem

In a bid to avoid a similar scenario to Facebook's IPOcalypse, the New York Stock Exchange ran a simulated market debut for Twitter shares over the weekend.

The NYSE did a test run of the day Twitter’s stocks will go on sale to check if its systems will be able to handle the tidal wave of traffic the IPO could potentially generate.

Facebook’s market debut on the NASDAQ exchange was a shambles because the exchange's systems became overloaded with the flood of orders going through and brokers didn’t know if their buy or sell orders had gone through or, where they were backlogged, what price the order had gone through at.

"This morning's systems test was successful, and we're grateful to all the firms that chose to participate," an NYSE spokesman told Reuters. "We are being very methodical in our planning for Twitter's IPO, and are working together with the industry to ensure a world-class experience for Twitter, retail investors and all market participants."

Twitter is the biggest tech IPO since Mark Zuckerberg's social network went public, and its decision to list on the NYSE is seen by many as a reaction to the NASDAQ’s handling of the Facebook shares.

The NASDAQ was fined $10m by the Securities and Exchange Commission for the debacle and is in the process of ponying up to $62m to compensate firms that were harmed.

Although the NASDAQ tested its systems before the Facebook debut, it limited the total number of orders to 40,000. On the day, nearly 500,000 orders were placed before the shares even opened and over 500 million stocks had been traded by the end of the day.

The NYSE tested orders in the hundreds of thousands and also simulated receiving large orders of tens of millions of shares from single firms. ®

Mobile application security vulnerability report

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Amazon Reveals One Weird Trick: A Loss On Almost $20bn In Sales
Investors really hate it: Share price plunge as growth SLOWS in key AWS division
Bose says today is F*** With Dre Day: Beats sued in patent battle
Music gear giant seeks some of that sweet, sweet Apple pie
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
Too many IT conferences to cover? MICROSOFT to the RESCUE!
Yet more word of cuts emerges from Redmond
Chips are down at Broadcom: Thousands of workers laid off
Cellphone baseband device biz shuttered
Twitch rich as Google flicks $1bn hitch switch, claims snitch
Gameplay streaming biz and search king refuse to deny fresh gobble rumors
prev story

Whitepapers

Top three mobile application threats
Prevent sensitive data leakage over insecure channels or stolen mobile devices.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
Build a business case: developing custom apps
Learn how to maximize the value of custom applications by accelerating and simplifying their development.