NEW YORK/SAN FRANCISCO, June 11 : As SpaceX prepares for its record-breaking $75 billion market debut with great fanfare, Wall Street traders, brokers and exchanges are working nonstop to make sure their trading systems can handle the blockbuster IPO and avoid the chaos that marred other highly anticipated launches.Weighing heavily is Facebook's infamous debut in 2012, which was upended by technical glitches that turned into hours of uncertainty over whether trades had been properly executed, ultimately costing market-makers hundreds of millions of dollars. Financial firms have undergone weeks of preparation to ensure SpaceX's Friday trading debut is a success, particularly ahead of other blockbusters expected later this year from Anthropic and OpenAI."It's an historic event," Peter Tuz, president of Chase Investment Counsel in Charlottesville, Virginia, said. "I hope it trades successfully afterwards, for the market's sake. If something like this comes out and trades down, not only will it cast a pall over the market in general, but over the other IPOs that are lining up for the rest of the summer." While Wall Street executives host splashy client events and deck out their foyers to promote the rocket maker, those in key roles at exchanges, market makers, investment firms and brokerages are more concerned with ensuring a smooth trading kick-off. In a sign of brokerages' long memories, one executive at a Wall Street firm working on the IPO who requested anonymity even mentioned lingering scar tissue from the Facebook debut.
Wall Street buckles up for SpaceX liftoff, hoping for a glitch-free ride
NEW YORK/SAN FRANCISCO, June 11 : As SpaceX prepares for its record-breaking $75 billion market debut with great fanfare, Wall Street traders, brokers and exchanges are working nonstop to make sure their trading systems can handle the blockbuster IPO and avoid the chaos that marred other highly anticipated launches.










