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The NASDAQ OMX Group has agreed to pay the U.S. Securities and Exchange Commission a $10 million penalty to settle charges related to "poor systems and decision-making" during Facebook Inc.’s initial public offering and subsequent trading. The agency called the penalty "the largest ever against an exchange." It noted that, despite a general expectation that Facebook’s IPO would be among the largest ever, a flaw in NASDAQ’s system for matching IPO buy and sell orders caused disruptions. "NASDAQ then made a series of ill-fated decisions that led to the rules violations," the SEC said.

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