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Article includes a nice TL;DR Thursday, @ 7:30 p.m. BATS prices its IPO at $16 a share, the low end of expected range. 6.3 million shares are priced. Friday,
by twakefield 15y ago
Article includes a nice TL;DR
Thursday, @ 7:30 p.m. BATS prices its IPO at $16 a share, the low end of expected range. 6.3 million shares are priced.
Friday, 10:45 a.m.: BATS trading begins with trades occurring at BATS Exchange at $15:25, and seconds later trading stops due to technical issues.
10:48 a.m.: BATS says it is "investigating system issues" in all stock symbols between A and BFZZZ.
10:57: A trade on BATS in Apple shares sends stock falling 9.4% to $542.80. Trading halted.
11:02: Apple shares resume trading.
11:07: BATS declares "self help," an industry term meaning the exchange is having problems and other exchanges can stop routing orders to it.
11:14: BATS reopens trading of its stock and 1.2 million shares are executed at $15.25.
11:14: BATS shares route to Nasdaq and in seconds crash to pennies.
11:14: BATS shares halted.
11:53: BATS resolved issues regarding stocks with symbols A through BFZZZ.
11:55: "Self help" is revoked.
12:21 p.m.: BATS says it is cancelling all open orders in impacted stocks, and that trading would reopen for them at 12:50 p.m. It also says a "resume time" for its shares would be "communicated shortly."
12:41: BATS says it will restart trading of its shares at 1:20 p.m.
1:03: BATS says it will be "further delaying" trading of its stock.
3:10: BATS says its shares won't trade Friday.
3:42: BATS withdraws IPO.