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
