NYSE All Set for Trial Run of Snap IPO

24 February 2017, USA:

The New York Stock Exchange is conducting a trial run of Snap Inc’s Initial Public Offering tomorrow according to a notice given last week to stock traders, in anticipation of what is expected to be the biggest U.S. technology IPO in nearly five years.

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As per the Reuters report, NYSE traders revealed that the exchange will offer a “weekend production testing opportunity” so that firms could “exercise their IPO trading logic”.

“It’s a big deal and they clearly want to make sure it goes smoothly—you can’t fault them for that,” said Ken Polcari, director of the NYSE floor division at O’Neil Securities in New York. “They want to make sure the systems are a ‘go’ and there are no glitches or bugs in the system, so it is just a course of action.” (Image- REUTERS/Brendan McDermid)

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