NEW YORK: Nasdaq OMX Group Inc said it will offer cash and rebates totaling $40 million to compensate clients affected by the problems with Facebook Inc's initial public offering, an amount well short of the losses claimed by top market makers for the IPO.
After approval by regulators, Nasdaq said on Wednesday, $13.7 million would be paid to its affected member firms and the balance would be credited to members to reduce trading costs, with all benefits expected to be awarded within six months.
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