When Facebook announced it would list its shares on the NASDAQ it was considered a huge win for the stock exchange, which has been battling the New York Stock Exchange (NYSE) to win high-profile tech listings in an otherwise weak IPO market.

Last year, NYSE scored listings from such companies as LinkedIn, Pandora, and Yelp. In addition to Facebook, NASDAQ recently won filings from Groupon and TripAdvisor.

Leigh Parrish, senior MD in the ...