[ by Howard Haykin ] In the adjoining story, we learned that Market maker Knight Capital claims to have lost as much as $35 million on Facebook orders gone bad, as a result of technical problems encountered by Nasdaq on Facebook's first day of trading - Friday, 5/18/12.  Knight further estimates that brokerage losses can amount to as much as $100 million. For example, on that fateful Friday, 5/18/12, Facebook accounted for 22% of equities volume at Omaha, Neb.-based online broker TD Ameritrade, according to SVP Steve Quirk. The size of the pool Nasdaq would use to reimburse customers must be approved by the company’s board, the exchange later said - and as of right now, any claims would be limited to a maximum payout of $3 million for problems related to trading-system errors.  Nasdaq OMX Group CEO Robert Greifeld said on Sunday, 5/20/12, that about $10 million the exchange received from its unanticipated participation in the IPO auction would be added to the fund, if the SEC allows it.  FINRA has been asked to oversee claims submitted by brokers for such losses, on behalf of Nasdaq. [Bloomberg, 5/23/12]