(Reuters) - Individual investors were left in the dark for hours on Friday about whether their buy and sell orders for newly issued Facebook shares had actually been executed, in the latest of a series high-profile exchange glitches in recent years. Massive demand for the social networking giant's initial public offering, which set a trading volume record for U.S. market debuts, led to a 45-minute delay in the start of trading in the stock. But it was what happened after trading started that had some on Wall Street fuming. ...

WASHINGTON (Reuters) - The Securities and Exchange Commission will review the Nasdaq trading glitches surrounding the initial public offering of Facebook Inc on Friday, an agency spokesman said. "As is our practice, staff will review the incident with Nasdaq to determine its cause and steps that will be taken to address it," SEC spokesman John Nester said in a statement. (Reporting By Dave Clarke; Editing by Gary Hill)

<p><a href="http://news.yahoo.com/facebook-prices-top-range-landmark-ipo-005337198--sector.html"><img src="http://l.yimg.com/bt/api/res/1.2/q1NlRdCLcOrkyVGdHi0Vkw--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2012-05-18T154621Z_1_CBRE84H157X00_RTROPTP_2_FACEBOOK.JPG" width="130" height="86" alt="Handout photo of Facebook Chief Executive Mark Zuckerberg ringing Nasdaq's opening bell in Menlo Park" align="left" title="Handout photo of Facebook Chief Executive Mark Zuckerberg ringing Nasdaq's opening bell in Menlo Park" border="0" /></a>SAN FRANCISCO (Reuters) - The historic initial public offering of Facebook Inc did not go as planned on Friday, as the social networking company's sky-high valuation combined with trading glitches left the stock languishing near its offering price at the market close. Facebook shares, which opened up 11 percent, closed at $38.23 after a nail-biting last half hour of trading when the shares dipped to their $38 IPO price. Most investors had predicted a first-day pop. More than 576 million shares changed hands, setting a trading volume record for U.S. market debuts. ...</p><br clear="all"/>

<p><a href="http://news.yahoo.com/facebooks-ipo-averts-questions-over-odd-lots-182434233--sector.html"><img src="http://l2.yimg.com/bt/api/res/1.2/nNcjJ4Tfujr7HTc1rticjQ--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2012-05-18T193252Z_2_CBRE84H1I7E00_RTROPTP_2_FACEBOOK-ODDLOTS.JPG" width="130" height="86" alt="People gather outside NASDAQ Marketsite waiting to see Facebook's share prices posted inside on video monitors in New York" align="left" title="People gather outside NASDAQ Marketsite waiting to see Facebook's share prices posted inside on video monitors in New York" border="0" /></a>NEW YORK (Reuters) - Facebook Inc's modest debut on Friday may have averted a potential headache for the company and regulators, and kept at bay a debate over the role of "odd lots" in the marketplace. Shares of Facebook traded as high as $45, near the price of $50 that would keep many retail investors from placing a typical "round lot" order of 100 shares, because the total cost will be $5,000 - considered a threshold for many investors. By the end of regular trading on Friday, however, the stock closed at $38.23, just 23 cents, or 0.6 percent, above its initial public offering price. ...</p><br clear="all"/>

NEW YORK (Reuters) - On Monday, 74-year-old Betty Tanguilig told her financial adviser to liquidate a $400,000 account and put all the proceeds into Facebook Inc IPO shares. Her adviser, Alan Haft, agreed to sell only $46,000 of the $400,000 account, one of several the retiree has. But at about 6:00 a.m. EDT Friday, Haft heard from his brokerage firm, E*Trade Financial Corp, that Tanguilig did not get any IPO shares. Tanguilig, a retired mother of eight, was furious. She has been on Facebook for many years and regularly logs in. "I had to have it," she said. ...