The software malfunction at Knight happened as a result of an upgrade of the firm's trading programs to meet new specifications at the New York Stock Exchange for the debut of a new system of executing buy and sell orders of individual investors. Similarly, the trading meltdown during Facebook's debut on the Nasdaq OMX occurred after an upgrade of the firm's system ahead of the highly anticipated initial public offering. Nasdaq's trading platform was unable to keep up with the massive volume of cancelled trades in the lead-up to the stock's opening.