FISD Tackles Lack Of Standards For "Closing Price"


The Financial Information Services Division of the Information Industry Association is embarking on a project to address the problem of the lack of a standard definition that is used by exchanges worldwide for the term "closing price." The FISD is planning to survey exchanges worldwide to document pricing conventions in each market and make a database of results available to vendors and securities firms.

Mike Atkin, director of the FISD, says the aim of the project is not to establish the "ri

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