SIA: Decimalization Conversion on Target
SPECIAL REPORT
NEW YORK--A recent study of pilot trading in decimals on listed exchanges conducted by the Securities Industry Association has found quote activity is only up 35 percent, dramatically below the estimated 100 to 130 percent expected.
The study, conducted between Aug. 28 to Oct. 20, found message traffic, trading spreads, trade sizes and market patterns coming up to speed. Pilot trading began with seven issues on the New York Stock Exchange and six on the American Stock Exchange. On Sept. 25, a
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