Smooth Sailing So Far for Twitter Debut on NYSE

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Nov. 7 (Bloomberg) -- NYSE Euronext Vice President and Head of Global Listings Scott Cutler discusses Twitter's debut with Emily Chang on Bloomberg Television's "Bloomberg West." (Source: Bloomberg)

The floor.

You are the guy who recruited twitter to the new york stock exchange.

It was quite a coup.

How are you feeling?

We feel great.

It has been a successful launch.

We wanted to make sure the tone at the open for their debut into the public markets was flawless for everybody.

The day is not over.

You have to make sure the rest of the day goes smoothly.

What does it do that?

We provide the platforms to allow buyers and sellers to come together in the public markets.

We have traded nearly 90 million shares so far here on the nyse.

We are making sure that platform enables people to come together to buy and sell the stock.

We have seen reports about a slowdown in your data feeds.

What can you tell us about what is happening there?

Nonmaterial issue when we were looking to launch the ipo.

No impact on the deal at all.

What is happening?

And a time when you have a complex system, just like when launching a rocket motor you have little lights that go on.

You address those issues that have no impact on the market, no impact on any customer.

So you experienced a slowdown but it was minor?

Yes, immaterial issues microtechnology issues this morning.

It took a long time for them to set the price.


We're not focused on the time.

We're focused on making sure your opening at the right price.

Goldman sachs and morgan stanley led the deal.

Then barclays.

They are focused on the opening auction, opening at the right price.

It has been in a very tight band from where it opened and where it is trading now, which says they opened the stock very well.

It opened 70% above the ipo price that was said yesterday.

Some investors are not too happy about that.

They think twitter left a lot of money on the table.

What do you think?

If you got in last night, you are very happy.

You bought in at $26, and you see where it is that today.

This is the first time the public has the opportunity to enter into the stock.

What you see with the stock rise is a reflection of where supply and demand comes together in the public market.

What did it take to get to enter to come here instead of the nasdaq?

We have a partner with them for a couple years.

We have been a user of the platform.

We have done very interesting things with them.

We were part of their "lets fly" campaign.

We have been very excited about what the platform does for us and for our customers.

For us, it has always been about partnership.

Ultimately, the decision is about the execution of the ipo and making sure that debut is first class.

I think that is what we provided today.

You are the guy on the ground trying to convince these companies to list with you.

How important are other technology companies in the pipeline to the new york stock exchange?

The nasdaq is known as being the tech exchange.

Click the nyse has listed the majority of the technology ipo's so far this year as well as last year.

It represents 25% to 30% of the overall volume of ipo's this year.

Remember, we executed $44 billion in ipo's, more than the next four exchanges combined here at the nyse.

This is part of the broad capital markets we enjoy.

Head of global listings, thanks for joining us.

Red blood for the rest of the

This text has been automatically generated. It may not be 100% accurate.


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