Nasdaq says claims in Facebook IPO capped at $41.6 mln

Friday, 25 Oct 2013 | 2:08 PM ET
The exterior facade of the NASDAQ market on the first day of Facebook trading on May 18, 2012.
Ben Hider | Getty Images
The exterior facade of the NASDAQ market on the first day of Facebook trading on May 18, 2012.

The total value of the claims that market makers can recover after suffering losses due to Nasdaq OMX Group Inc.'s botched handling of Facebook Inc.'s initial public offering is $41.6 million, the exchange operator said Friday.

The claims figure, which was calculated by Wall Street's industry-funded watchdog the Financial Industry Regulatory Authority, falls short of the $62 million that Nasdaq had initially set aside to repay brokerages that lost money.

Pisani: Facebook' glitch' payout
CNBC's Bob Pisani reports FINRA has completed its assessment of Facebook IPO claims.

(Read more: Nasdaq CEO: 'We're Embarassed' by Botched Facebook IPO)

Nasdaq said the figure is lower in part because some claims did not qualify for compensation under its plan. The main reason for the lower figure, however, was because one firm opted to try to recover funds through arbitration.

—By Reuters.

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