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>> This is most likely the catalyst for why UBS is actually suing unlikely. from their quarterly report " NASDAQ ultimately filled all of these orders, exposi
by andylei 14y ago
>> This is most likely the catalyst for why UBS is actually suing
unlikely. from their quarterly report " NASDAQ ultimately filled all of these orders, exposing UBS to far more shares than our clients had ordered".
their clients ordered X shares of FB. UBS sent out 5 * X shares (or something like that). they sent out extra orders because NASDAQ wasn't sending acknowledgements for the initial orders. so UBS had to liquidate 4 * X shares at a loss, because the price took a dive. the loss from liquidation is why they sued.