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Dumbest Moments in Business

The biggest blunders of 2012.

BATS stock exchange bungles its own IPO

dumbest moments 2012 bats ipo

In March, the United States' third-largest stock exchange managed to screw up its own IPO...on its own exchange.

On the very day that BATS Global Markets had hoped to debut as a public company, a technical failure sent the newly-issued BATS stock, along with shares of several other companies, into a tailspin.

It took over two hours to reopen the market but the damage was done: BATS withdrew its IPO and later issued a heartfelt apology.

BATS, which operates one of the largest platforms for high-frequency trading, says its mission is to "make markets better." But critics say the company's botched IPO is just another example of how technology and trading do not always mix. -- Ben Rooney

- Last updated December 19 2012 05:01 PM ET

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