Book Description

Examines the progress that the securities industry (SI) has made toward the implementation of decimal pricing (DP) for U.S. stocks. The U.S. equity markets are the only major equity markets that still use fractional pricing. Some have projected significant savings to investors following implementation of DP. This report addresses these questions: what were the reasons that the Nasdaq market was not ready for the July 3, 2000, implementation date & how NASD's DP preparations compared with those of the NYSE; how SEC approached oversight of the SI's implement. of DP & how this compared with its Year 2000 effort; & what challenges remain regarding implementing DP.