The NYSE is planning a special testing session ahead of Twitter Inc.’s hotly-anticipated initial public offering, in an effort to avoid technical troubles when the IPO debuts.
The exchange said today that in preparation for Twitter’s forthcoming IPO, it will offer a weekend testing opportunity on October 26, 2013 “for firms to exercise their IPO trading logic.” Additional details will be provided early next week, including registration details, and a test script, it said.
Clearly, the exchange wants to avoid a repeat of the problems that occurred when Facebook went public back in May 2012, which resulted in Nasdaq (the exchange that handled the IPO) creating a $62 million fund to compensate affected investors.