Citi Blasts NASDAQ Over Facebook In A Letter To The SEC

Citigroup Inc. (NYSE:C) finally went public on its frustration with the NASDAQ exchange operator, NASDAQ OMX Group Inc’s  (NASDAQ:NDAQ) handling of the Facebook Inc (NASDAQ:FB) IPO in May, and the subject of compensation for the botched trades during that IPO.

According to a report in the WSJ, Citigroup Inc. (NYSE:C) has written to the SEC that the exchange ignored technical problems and went ahead with the IPO in a “hasty” and “self-interested” manner, and that its actions resulted in losses of hundreds of millions of dollars to market participants. In Citi’s...