“Nasdaq OMX Group Inc. (NDAQ), the second- biggest U.S. stock exchange owner, revamped its proposal to compensate brokers that lost money in the public debut of Facebook Inc. (FB), boosting the payout to $62 million cash.
The amendment, which follows criticism from Wall Street market makers and exchanges about the original plan, increases the compensation pool from $40 million and does away with a proposal to credit most of the money through reduced trading costs, according to a submission with Securities and Exchange Commission. Member brokers who accommodated customers will get paid first, it said.”
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