What impact will decimalization have on US securities markets?
August 28, 2000 marked the day of the decimal in the US stock market. The phased-in conversion from fractional to decimal pricing began with small groups of New York Stock Exchange-listed stocks Anadarko Petroleum, FedEx, Forest City Enterprises, Gateway, Hughes Supply and MSC Software. The phase-in process will continue until April 2001, by which time the Securities and Exchange Commission (SEC) says all stocks on all US exchanges must be trading in decimal prices.
Like any change, the decimalization
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Myles Gillespie
Myles Gillespie is president of Fleet Specialist, a NYSE specialist firm. A member of Fleet's board of directors and management committee, he manages the firm's floor operations.
