Decimalization is set to start August 28, 2000. Are there issues we need to be concerned about, such as front-running (by a penny) or multiple commissions for penny differences in transaction prices? This is a forum to air those concerns, and provide feedback to regulators as the phase-in continues.
sec.gov
Decimal Implementation Plan Submitted by National Securities Exchanges and NASD
FOR IMMEDIATE RELEASE 2000-103
Washington, D.C., July 26, 2000 – Pursuant to an Order issued by the Securities and Exchange Commission on June 8, 2000, the national securities exchanges and the National Association of Securities Dealers, Inc. have submitted a comprehensive phase-in plan for decimal pricing in equity securities and options. The plan presented to the Commission calls for decimal pricing to begin in 13 exchange-listed securities and options on those securities on August 28, 2000. Decimal pricing will then be expanded to 50 to 100 additional exchange-listed securities and their options on September 25, 2000. The plan provides that decimal pricing for all remaining exchange-listed securities and all options potentially could begin as early as December 2000. Any decision to convert all remaining exchange-listed securities and options between the period December 2000 and April 9, 2001 will be based on an assessment of industry readiness, and will be preceded by at least 30 days notice.
Decimals Implementation Plan
for the Equities and Options Markets
sec.gov |
