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Nasdaq plans $40 million in Facebook IPO compensation


    (Reuters) - Nasdaq OMX Group Inc said on Wednesday it plans to compensate clients affected by the problems with Facebook Inc's initial public offering a total of $40 million through a combination of cash and rebates.

    Nasdaq said that pending regulatory approval, $13.7 million would be paid to its affected member firms and the balance would be credited to members to reduce trading costs, with all benefits expected to be awarded within six months.

    (Reporting By John McCrank; Editing by Gerald E. McCormick)