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Twitter share sale test runs smoothly at NYSE

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Twitter share sale test runs smoothly at NYSE
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The New York Stock Exchange says a weekend test of trading of shares of Twitter went smoothly.

The simulated buying and selling of shares was a first for the New York trading floor and it was done at the request of NYSE member firms.

It is keen to avoid the types of problems that plagued Facebook’s stock launch on rival Nasdaq when Twitter offers 70 million shares in early November.

The fact that Twitter did not decide to list with the Nasdaq may be linked to those glitches.

The two exchanges are bitter rivals for these kind of highly lucrative share offerings.

Three tests were carried out to mimic the Twitter debut and the NYSE Euronext says all went well.

It was testing mainly for two things: To see if its systems could handle the amount of message traffic that might be generated by the initial public offering; and to make sure that once the IPO took place any firms that placed orders would promptly receive the reports telling them that their orders had been executed.

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