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This is not to say BATS’s IPO debacle wasn’t the worst IPO of all time.However, the error that forced BATS Global Markets to pull its IPO and triggered a circuit breaker on Apple isn’t an anomaly, The New York Times‘s Nathaniel Popper reports.
According to data provided to The Times, shares were halted 265 times over the last twelve months. That’s more than once every trading day.
Communication breakdowns have also impacted trading on exchanges 110 times, each lasting more than an hour. When that happens, trading in a variety of stocks can be blocked.
The report is a reminder to many traders that the markets are far from perfect. And having a trade bounce is nothing to be surprised about.