Montrose to Compensate Clients After Noba Listing Tech Issues: Di.se

According to Dagens Industri, online brokerage firm Montrose will compensate clients impacted by technical failures during the initial public offering (IPO) of Noba. The platform experienced system disruptions that negatively affected customers' participation in the IPO. Montrose attributed the issues to a critical error in share allocation. Customers received double the intended number of shares; for example, one client allocated 15 shares received 30. Furthermore, the firm's order placement system experienced disruptions on Friday morning, impeding clients' ability to trade Noba shares during its first day of trading. In a press statement, Montrose acknowledged these failures and pledged to compensate affected clients for both the share allocation error and the order placement disruptions, confirming the technical issues impaired portfolio management and trading capabilities. While Montrose has accepted responsibility for the system failures and committed to remediation, the specific details and form of compensation were not disclosed. This incident underscores the necessity of a robust and reliable trading infrastructure, particularly during high-volume events such as IPOs.