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Investing January 26, 2001
NYSE Stocks To Trade in Decimals Monday
January 26, 2001 (PLANSPONSOR.com) - The New York
Stock Exchange says it will complete its conversion to
decimal pricing for all 3,500 listed securities
Monday.
Reported by Nevin E. Adams
That means the Big Board will have the conversion completed more than two months ahead of the April 9 deadline set by the Securities Exchange Commission.
Pricing in decimals is expected to narrow the trading spreads found in the current fraction pricing.
The American Stock Exchange is also expected to complete the switch to decimals Monday, according to Dow Jones.
The NYSE has been phasing securities to decimal pricing over the past year. As of today, 159 NYSE-listed stocks are trading in decimals.
The conversion at NASDAQ has lagged, at least in part due to the huge trading volumes and volatile markets that have been the trademark of the technology sector over the past couple of years. However, it still expects to complete its conversion by the April deadline.