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Decimal Conversion 2000: Are The Markets Ready?: Hearing Before the Committee of Commerce, U.S. House of Representatives
Michael G. Oxley (ed.). Congressional Bill H.R. 1053 required U.S. markets join the rest of the world & price stocks in decimals rather than fractions. Capital markets will begin trading stocks in decimals rather than fractions in July 2000. Decimal conversion will undoubtedly bring an increase in “traffic” & there is concern whether there is enough capacity to handle the new flow of information being created by shrinking bid & offer quotes. It is vital to ensure that our system has the ability to handle conversion. Witnesses: Davi M. D’Agostino, Cody J. Goebel, & Jean-Paul Reveyoso, Financial Institutions & Market Issues, GAO. Charts & tables.
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