By John McCrank
NEW YORK (Reuters) - The New York Stock Exchange said it will hold a test run of Alibaba Group Holding's
NYSE, owned by Intercontinental Exchange Inc
The Chinese e-commerce company's trading debut this summer could be the largest-ever technology IPO in the U.S., possibly eclipsing Facebook Inc's
Facebook's trading debut on Nasdaq OMX Group's
Nasdaq, which was fined $10 million by the U.S. Securities and Exchange Commission over the problems, said it would voluntarily compensate firms that had been harmed up to a total of $62 million.
NYSE regularly conducts systems testing during the weekends but it was only last October, ahead of Twitter Inc's
During the Twitter IPO simulation, NYSE was testing mainly for two things: To see if its systems could handle the amount of message traffic that might be generated by the IPO; and to make sure that once the IPO took place any firms that placed orders would promptly receive the reports telling them that their orders had been executed.
The Facebook incident was one of a number of high-profile technology-related problems that have roiled markets and weighed on investor confidence in recent years, placing a bigger focus on operational risk by regulators and market participants.
(Reporting by John McCrank; Editing by Bernadette Baum)