URGENT-Nasdaq says claims in Facebook IPO capped at $41.6 mln

Reuters

WASHINGTON, Oct 25 (Reuters) - The total value of the claimsthat market makers can recover after suffering losses due toNasdaq OMX Group Inc's botched handling of FacebookInc's initial public offering is $41.6 million, theexchange operator said Friday.

The claims figure, which was calculated by Wall Street'sindustry-funded watchdog the Financial Industry RegulatoryAuthority, falls short of the $62 million that Nasdaq hadinitially set aside to repay brokerages that lost money.

Nasdaq said the figure is lower in part because some claimsdid not qualify for compensation under its plan. The main reasonfor the lower figure, however, was because one firm opted to tryto recover funds through arbitration.

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