Decimalization .01, .02 Message Board

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Pastimes : Decimalization .01, .02

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To: Sr K who started this subject	8/5/2000 2:37:34 PM
From: Sr K	Read Replies (1) of 7

What policies do online, and traditional, brokers have for decimalization? If transactions occur one or two cents apart to fill a limit or market order, will there be multiple commissions (more important for the online brokers that charge a fixed fee)? This will be for stocks as well as options, and I can foresee option transactions, especially for higher priced LEAPs, occurring at prices varying by a few cents. That's why options $3 and up don't trade in 1/16s. Sometimes, speed is more important than price, or the last penny. Is this a net positive for the online brokerage stocks? Or will they find a way to charge about the same as they do now? Is it a net positive for the ECN's and negative for the exchanges - because with many more differently priced bids and offers (similar to the 9:30 delayed openings) it will slow transactions, unless it is automated?

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