Facebook IPO (that is Initial Public Offering) didn’t start during the first hour of trading, but that is expected since other recent NASDAQ IPOs typically began at around 11AM ET. Upon logging in my Interactive Brokers Trader Workstation there were 2 unread messages, both about Facebook IPO. The first mentioned that although Market On Open and Limit On Open (MOO/LOO) orders were available if I were to participate in Facebook IPO, the orders wouldn’t persist so I had to resubmit at some time. The second message informed me (received an hour later) that MMO and LOO orders were no longer available and I had to place Day or GTC orders. Market orders were still available but their execution wasn’t guaranteed. Traders, welcome to Facebook IPO! Start your engines…
