Securities Markets: Preliminary Observations on the Use of Subpenny Pricing
Description:
Testimony issued by the Government Accountability Office with an abstract that begins "In 2001, U.S. stock and options markets, which had previously quoted prices in fractions, began quoting in decimals. Since then, various positive and negative effects have been attributed to the transition to decimal pricing. As part of this transition, the major stock markets chose one penny ($.01) as the minimum price variation for quoting prices for orders to buy or sell. However, some electronic trading s…
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Date:
July 22, 2004
Creator:
United States. Government Accountability Office.
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Partner:
UNT Libraries Government Documents Department