Decimalization

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Decimalization

The quotation and trading of stock or bond prices in decimals, as opposed to fractions such as eighths.

Decimalization

1. The process of changing listings of security prices from fractions to decimals. Decimalization makes prices and the market easier for investors and laypeople to understand.

2. In the United Kingdom, the process of changing the calculation of the pound sterling to a decimal system. Prior to 1971, the UK had a very complex way of calculating subdivisions of the pound. Since then, the currency has been decimalized into 100 pence.

decimalization

The transition of security prices being quoted in decimals rather than fractions. Decimalization in U.S. markets started in fall 2000 with exchange-listed stocks and was completed in April 2001 with Nasdaq stocks. Studies during the transition indicated that moving to decimals benefited investors by reducing the bid-ask spreads.
References in periodicals archive ?
The new pound coin, set to be introduced into circulation in 2017, and, inset, |the old 'threepenny bit' which disappeared after decimalisation in 1971
mgr ef 1971 Year thrupenny bit is taken out of circulation due to decimalisation
Polls showed that 60 per cent of people opposed decimalisation, with the board also being forced to admit that one in four people still didn't know how much a new penny was worth.
Sandra Quinn, director of communications at the Payments Council, said: "Since decimalisation, the debit card has overtaken cash as something we are loathe to leave home without, and we've now arrived at the point where one in three people prefer to shop online rather than in person.
The Central Bank is even getting old pounds, shilling and pence dating back to before decimalisation on February 15, 1971.
As the UK found with decimalisation, the only thing the new currency has proved is which European holiday destination has rounded up the most.
UK opponents of the euro point out that introducing decimalisation in the 1970s led to shopkeepers rounding up prices and causing price inflation.
Despite the shilling's dwindling worth and it's change to 5p with decimalisation, the symbolic bobs have recently been bringing in about pounds 100,000 a year.
No panic in the shops SOUTH Wales moved smoothly towards decimalisation today - the last shopping day before the changeover - with no panic buying or a huge rush to the food stores.
Call me cynical, but I can't help feeling we've been had somewhere - I may be confusing it with decimalisation.
ONE of the major issues affecting the ring is decimalisation.
1971: The British old penny and the threepenny piece coins ceased to be legal tender as decimalisation continued.