In a move to seemingly avoid technical glitches that marred Facebook's IPO, the New York Stock Exchange will hold a test run later this month.
(Credit: James Martin/CNET)
Here's another one to file under "lessons from Facebook's IPO": the New York Stock Exchange plans to hold a "dry run" ahead of Twitter's initial public offering.
The NYSE, Twitter's exchange of choice for its impending market debut, said Friday it will let trading firms conduct a test of their systems to prepare for Twitter's IPO, according to the Associated Press. The test will be held October 26, according to a note send out to traders, AP reported.
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Facebook, of course, had its IPO marred with technical glitches on Nasdaq's system. The exchange ended up being fined $10 million by the US Securities and Exchange Commission over errors during the social network's IPO. That, along with investor concerns about monetization, added up to a less-than-smooth start for Facebook on the public market. The stock price had a rocky first year, but it has since rebounded.
Twitter is expected to go public some time next month, possibly on November 15, and will use the ticker symbol TWTR.
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