NYSE CEO Niederauer on CNBC: Nasdaq Facebook Plan Is Not Fair

In an interview on CNBC, New York Stock Exchange NYX CEO Duncan Niederauer spoke on the fallout of the Facebook FB IPO and the Nasdaq's NDAQ proposed compensation plan. He said that any plan would have to be fair, and being fair is what his business is about. Also, he said that the payout plan "lacks accountability."

Mr. Niederauer is concerned that the proposed reimbursement plan will hurt competitiveness, as the Nasdaq is offering discounts on future trades to impacted traders. He fears that investor confidence has been eroded by the botched IPO and he said that, had it been on the NYSE, there would have been other backstops to prevent the fall of shares, such as the human market makers.

Facebook shares are trading 3.3% higher this morning at $27.17, NYSE is trading down 1.13% at $24.49, and the Nasdaq is trading down .45% at $22.01