{"id":22967,"date":"2017-02-24T06:19:44","date_gmt":"2017-02-24T06:19:44","guid":{"rendered":"http:\/\/www.biphoo.com\/bipnews\/?p=22967"},"modified":"2017-02-24T06:20:43","modified_gmt":"2017-02-24T06:20:43","slug":"nyse-plans-trial-run-snap-ipo","status":"publish","type":"post","link":"https:\/\/www.biphoo.com\/bipnews\/technology\/nyse-plans-trial-run-snap-ipo.html","title":{"rendered":"NYSE plans trial run for Snap IPO"},"content":{"rendered":"<h2 style=\"text-align: justify;\">\n\t<span style=\"font-size:22px;\"><strong><span style=\"color:#000000;\"><span style=\"font-family:arial,helvetica,sans-serif;\">NYSE plans trial run for Snap IPO<\/span><\/span><\/strong><\/span><br \/>\n<\/h2>\n<p style=\"text-align: justify;\">\n\t<span style=\"color:#000000;\"><span style=\"font-size:18px;\"><span style=\"font-family:arial,helvetica,sans-serif;\"><strong>NYSE plans <\/strong><strong>trial<\/strong><strong> run for Snap IPO:-<\/strong> The New York Stock Exchange will conduct a trial run of Snap Inc&#39;s initial public offering on Saturday, according to a notice given last week to stock traders, in anticipation of what is expected to be the biggest U.S. technology IPO in nearly five years.<\/span><\/span><\/span>\n<\/p>\n<p style=\"text-align: justify;\">\n\t<span style=\"color:#000000;\"><span style=\"font-size:18px;\"><span style=\"font-family:arial,helvetica,sans-serif;\">In an email to NYSE traders, the exchange said it would offer a &quot;weekend production testing opportunity&quot; on Feb. 25 for firms to &quot;exercise their IPO trading logic.&quot; It encouraged all firms to participate by sending samples of order flow they expect to receive from clients.<\/span><\/span><\/span>\n<\/p>\n<p style=\"text-align: justify;\">\n\t<span style=\"color:#000000;\"><span style=\"font-size:18px;\"><span style=\"font-family:arial,helvetica,sans-serif;\">The stakes are high for NYSE in handling the closely-watched offering for Snap, which runs popular messaging app Snapchat. Even the smallest hiccup could taint NYSE&#39;s reputation, industry sources said.<\/span><\/span><\/span>\n<\/p>\n<p style=\"text-align: justify;\">\n\t<span style=\"color:#000000;\"><span style=\"font-size:18px;\"><span style=\"font-family:arial,helvetica,sans-serif;\">&quot;It&#39;s a big deal and they clearly want to make sure it goes smoothly &#8211; you can&#39;t fault them for that,&quot; said Ken Polcari, director of the NYSE floor division at O&#39;Neil Securities in New York. &quot;They want to make sure the systems are a &#39;go&#39; and there are no glitches or bugs in the system, so it is just a course of action.&quot;<\/span><\/span><\/span>\n<\/p>\n<p style=\"text-align: justify;\">\n\t<span style=\"color:#000000;\"><span style=\"font-size:18px;\"><span style=\"font-family:arial,helvetica,sans-serif;\">NYSE, which is owned by Intercontinental Exchange Inc, does not do trial runs for all IPOs. But it makes exceptions for big, high-profile unveilings, such as Twitter Inc&#39;s in 2013 and Alibaba Group Holding LTD in 2014.<\/span><\/span><\/span>\n<\/p>\n<p style=\"text-align: justify;\">\n\t<span style=\"color:#000000;\"><span style=\"font-size:18px;\"><span style=\"font-family:arial,helvetica,sans-serif;\">That has especially been the case since Nasdaq Inc received intense criticism for botching Facebook&#39;s IPO in May 2012. Its technology was unprepared for the level of demand for Facebook&#39;s shares, leading to glitches, something a trial run could avoid.<\/span><\/span><\/span>\n<\/p>\n<p style=\"text-align: justify;\">\n\t<span style=\"color:#000000;\"><span style=\"font-size:18px;\"><span style=\"font-family:arial,helvetica,sans-serif;\">Snap&#39;s selection of NYSE last month was a win for the exchange, which fought hard to win the listing, along with Nasdaq.<\/span><\/span><\/span>\n<\/p>\n<p style=\"text-align: justify;\">\n\t<u><span style=\"font-size:8px;\"><span style=\"color:#000000;\"><span style=\"font-family:arial,helvetica,sans-serif;\">Source:-&nbsp;http:\/\/www.reuters.com\/article\/us-snap-inc-ipo-nyse-idUSKBN1621XJ<\/span><\/span><\/span><\/u><\/p>\n<div class=\"fb-background-color\">\n\t\t\t  <div \n\t\t\t  \tclass = \"fb-comments\" \n\t\t\t  \tdata-href = \"https:\/\/www.biphoo.com\/bipnews\/technology\/nyse-plans-trial-run-snap-ipo.html\"\n\t\t\t  \tdata-numposts = \"10\"\n\t\t\t  \tdata-lazy = \"true\"\n\t\t\t\tdata-colorscheme = \"light\"\n\t\t\t\tdata-order-by = \"social\"\n\t\t\t\tdata-mobile=true>\n\t\t\t  <\/div><\/div>\n\t\t  <style>\n\t\t    .fb-background-color {\n\t\t\t\tbackground: #ffffff !important;\n\t\t\t}\n\t\t\t.fb_iframe_widget_fluid_desktop iframe {\n\t\t\t    width: 630px !important;\n\t\t\t}\n\t\t  <\/style>\n\t\t  ","protected":false},"excerpt":{"rendered":"<p>NYSE plans trial run for Snap IPO NYSE plans trial run for Snap IPO:- The New York Stock Exchange will conduct a trial run of Snap Inc&#39;s initial public offering on Saturday, according to a notice given last week to stock traders, in anticipation of what is expected to be [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":22971,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[11574,11572,14202,11573],"class_list":["post-22967","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-breaking-usa-tech-news","tag-latest-technology-news-usa","tag-nyse-plans-trial-run-for-snap-ipo","tag-tech-news-today"],"_links":{"self":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/posts\/22967","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/comments?post=22967"}],"version-history":[{"count":0,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/posts\/22967\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/media\/22971"}],"wp:attachment":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/media?parent=22967"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/categories?post=22967"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/tags?post=22967"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}