State and Nation Business

NYSE to hold 'dry run' for Twitter IPO

The New York Stock Exchange isn't taking any chances with Twitter's initial public offering. The Big Board said it would allow trading firms to conduct a dry run of their systems Oct. 26 to prepare for Twitter's IPO.
The New York Stock Exchange isn't taking any chances with Twitter's initial public offering. The Big Board said it would allow trading firms to conduct a dry run of their systems Oct. 26 to prepare for Twitter's IPO.

NEW YORK – The New York Stock Exchange isn't taking any chances with Twitter's initial public offering.

The Big Board said Friday it would allow trading firms to conduct a dry run of their systems to prepare for Twitter's IPO. The NYSE test will occur on Saturday, Oct. 26, according to a notice sent out to traders.

The exchange seems to want to avoid the technical problems that marred Facebook's debut on the Nasdaq Stock Exchange in May 2012. The glitches were a major embarrassment for Nasdaq, and resulted in a big fine.

The micro-blogging service is expected to go public sometime in November, possibly before Thanksgiving. It will trade under the ticker "TWTR" on the NYSE.

Twitter's IPO is the biggest technology debut since Facebook's. While Nasdaq won Facebook's listing, one of the biggest IPOs in years, the debut was hit with trading delays and order failures. As a result, the Securities and Exchange Commission in May fined Nasdaq $10 million, the largest ever levied against an exchange.

Twitter said earlier this week that it had chosen to list with the NYSE over rival Nasdaq.

Loading more

Digital Access

Digital Access
Access nwherald.com from all your digital devices and receive breaking news and updates from around the area.

Home Delivery

Home Delivery
Local news, prep sports, Chicago sports, local and regional entertainment, business, home and lifestyle, food, classified and more! News you use every day! Daily, weekend and Sunday packages.

Text Alerts

Text Alerts
Stay connected to us wherever you are! Get breaking news updates along with other area information sent to you as a text message to your wireless device.

Email Newsletters

Email Newsletters
We'll deliver news & updates to your inbox. Plan your weekend and catch up on the news with our newsletters.