The problems, which centered on order cancellations, have "humbly embarrassed" Nasdaq, which as a result is not having its "finest hour," Greifeld said, .

Facebook shares were expected to start trading at 11 a.m. U.S. Eastern Time, but the process was delayed by about 30 minutes, and other glitches surfaced throughout the trading day, which led to confusion among investors, according to published reports.

Nasdaq's board met on Saturday to address the issues and plans to adjust its IPO auction process in light of the problems encountered on Friday, Greifeld said, according to the Journal.

However, the technical problems had no impact on the performance of Facebook shares,Greifeld said, . Facebook's first day of trading was largely considered underwhelming because its shares closed almost flat, up only $0.27 at $38.27.

Greifeld pegged the initial trading delay on poorly designed software for IPO auctions, as systems tasked with setting an opening price buckled under a flood of order cancellations and updates, .