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Technology Stocks : Compaq -- Ignore unavailable to you. Want to Upgrade?

To: Night Writer who wrote (84270)	8/17/2000 11:27:27 AM
From: John Koligman	Respond to of 97611

Compaq to 'go decimal' on the NYSE... John Big Board Will Increase Decimal Pilot Program A WSJ.COM News Roundup NEW YORK -- The second phase of the securities industry's pilot program for trading stocks in decimals will begin Sept. 25 at the New York Stock Exchange, and will include some of the Big Board's most active stocks, such as America Online Inc. and Compaq Computer Corp. The NYSE said that the second phase will include 52 companies, representing 57 issues. These issues are in addition to the six companies, representing seven issues, that will make up the first part of the decimal pilot program, which will begin Aug. 28. The stock market's long-standing practice has been to quote stock prices in fractions, such as 10 1/4. But the securities industry, bowing to pressure from regulators, congressmen and investors, has agreed to quote stock prices in decimals, such as 10.25. Under an order issued by the Securities and Exchange Commission, securities prices must be quoted in decimals by April 9. Using decimals in trading could make stock prices easier for many investors to understand. Moreover, quoting shares down to the penny could permit most stocks to be priced in smaller increments than they are today. Advocates believe it will shrink the spreads between "bid" and "asked" prices, potentially leaving more money in investors' pockets. Decimalization has already taken hold in some corners of Wall Street. Some private electronic-trading networks, known as ECNs, already quote some prices in decimals. Nasdaq stocks are to begin trading in decimals in March, with all U.S. stocks and options making the switch by the April deadline.