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 ?
And to think that Americans were the first to use a decimal model for currency, proposed by Thomas Jefferson and adopted in 1784, even before France became the first country in the world to adopt the decimal system of measurements in 1795 (Mexico adopted it in 1857, Italy in 1861, the U.
Intended primarily for the University of South Africa (Unisa) undergraduate student, this work proceeds from an explanation of the Dewey Decimal System (DDC) to an examination of the formats for providing references using the Harvard method.
The decimal system of numbers is our constant companion as we strive to make sense of the world.
A fundamental flaw in the vast majority of articles on folksonomies and taxonomies is the almost universal use of the Dewey Decimal System (or Library of Congress Subject Headings) as the example taxonomy.
The second set concerned the dates between which the European replacement decimal system was gradually introduced into the UK.
The Arabic numeral - an improvement on the original Hindu concept - and the Arab decimal system facilitated the course of science.
While the Dewey Decimal System was a filter that made paper libraries easily navigable, there is no similar system online.
In their introduction to Between the Covers, Hammond and Heltzel state their organizing principle, with a nod to library classification: "Just as the Dewey Decimal System was invented to impose order on books, we've created a system of our own to guide and stimulate your reading .
He was named after the Dewey decimal system used to catalogue books and lived at the library until his death last November.
The decimal system he developed, outlined in his book Liber Abaci (The Book of Calculations) could be applied much more readily to commercial bookkeeping, currency conversion and the calculation of interest.
1 : based on the number 10 : numbered or counting by tens <We use a decimal system of writing numbers.
SOFTEN contains all the initial letters of all the counting numbers from ONE to however high you want to go, and it separates into S OF TEN, which suggests SYSTEM OF TEN, the decimal system.