By Jessica Toonkel
NEW YORK (Reuters) - Some customers of Fidelity Investments, Morgan Stanley and Charles Schwab are still waiting to see if their trades for Facebook shares were completed on Friday.
Massive demand for the social networking giant's initial public offering on Friday, which set a trading volume record for U.S. market debuts, led to a 30-minute delay in the start of trading in the stock.
After the shares began trading, Nasdaq had problems confirming trade orders to investors, resulting in confusion over what trades had been executed.
Nasdaq had all orders, executed or not, returned to member firms by 1:50 p.m. EDT (1750 GMT) on Friday, according to a trading alert issued by the exchange on Monday morning.
But Morgan Stanley's brokerage affiliate, Morgan Stanley Smith Barney, e-mailed its advisers, also on Monday morning, that a "large number" of market orders entered on Friday for Facebook shares had still not been reconciled, according to an adviser at the firm, who is not allowed to talk to the media and who declined to be identified.
The brokerage, in which Citigroup also has a minority interest, is working to "reconcile" the issue manually, according to the email.
A Morgan Stanley spokeswoman declined to comment. A call to Nasdaq OMX Group Inc, which trades Facebook shares, was not returned.
"I heard a lot of brokers ranting and raving on Friday about this," said the adviser, who was still waiting for confirmation of one client's "sell" order for Facebook shares from Friday.
Fidelity Investments was still waiting for confirmation on some of its brokerage clients' trades as of Monday afternoon, a spokesman said.
While the firm did receive execution confirmations of some trades over the weekend from market makers, it was still awaiting final responses on others, a spokesman said.
"Fidelity continues to deal with the aftermath of Friday's market issues in delayed processing of orders for Facebook stock," a Fidelity spokesman said. "As they did then, Fidelity's systems continue to operate normally, but unfortunately, our clients continue to feel the effects of this in some cases. We are working aggressively to address these issues."
Similarly Charles Schwab Corp was still waiting for some trades to be resolved as of Monday afternoon, a spokesman said.
Nasdaq said on Monday it is changing its initial public offering trading procedures as a result of the glitches in Facebook's market debut. Facebook stock closed down $4.20, or 10.99 percent, to $34.03 on Monday.
(Reporting By Jessica Toonkel; Editing by Matthew Lewis, Steve Orlofsky, Tim Dobbyn and Carol Bishopric)