Robert Greifeld, chief executive of Nasdaq OMX Group Inc., on Sunday acknowledged design problems with Nasdaq's technology after the exchange operator was widely seen as bungling the landmark listing of shares of Facebook Inc. on Friday.
Mr. Greifeld said in an interview with reporters that problems with order cancellations interfered with the initial public offering process. "This was not our finest hour," he said, telling reporters Nasdaq's board met Saturday to consider the Facebook offering. Nasdaq plans to make changes to the IPO auction process given the Facebook troubles.
