Decimalization Is On Schedule, Says SIA After Pilot Trading Period

DECIMALIZATION FOCUS

NEW YORK: Atomic Tangerine (formerly SRI Consulting) has completed a study of pilot trading in decimals on listed exchanges for the Securities Industry Association.

There were no surprises in message traffic, trading spreads, trade sizes or market patterns, except for a 35 percent increase in quote activity that was dramatically below the 100 to 130 percent increase that had been expected.

The study period was from Aug. 28 to Oct. 20. Pilot trading began with seven issues on the New York Sto