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Among other recent problems: the 2010 "flash crash" that sent stocks swooning, Facebook's botched stock market debut in May, in which some investors didn't know whether their trades had gone though; and Knight Capital Group's software problem in August that briefly threw dozens of stocks into chaos. BATS is a stock-exchange operator, like its larger and better-known rivals such as the New York Stock Exchange and the Nasdaq. Exchange operators are required by regulators to make sure that stock orders are going to the best available offer. A technical malfunction caused some trades to not get the best offer price available.
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