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 45 years on from the day of full decimalisation, we have a set of contemporary coins symbolising Britain which are still firmly rooted in its heraldic traditions.
Along with the ha'penny, the halfcrown was withdrawn from circulation in 1969, two years before decimalisation occurred.
The idea did not go away, however, and there was further talk of decimalisation in the 1950s.
Our customers do not seem to be worried about decimalisation as we have been using dual prices since Christmas.
My primary objection was simply on grounds of how decimalisation would affect the finances of the sport as a whole, and whether it would lead to the closure of shops, with the resultant fall in both levy and picture rights.
Nearly 40 years ago, when they were introducing the new 50p, my teacher said that decimalisation was coming and in the future we'd all be using litres, kilometres, hectares etc and there'd be no need for ounces, pounds and all the other confusing imperial units.
What is particularly worrying about chip and PIN is that there is a quiet revolution underway Even though we are about to embark on the biggest change to the way we pay for goods since decimalisation, the public remains blissfully unaware of it all.
UK opponents of the euro point out that introducing decimalisation in the 1970s led to shopkeepers rounding up prices and causing price inflation.
There were huge price rises when decimalisation was introduced in this country", said the Consumers Association.
1971: The British penny and the threepenny (pictured) piece coins ceased to be legal tender as decimalisation continued.
Call me cynical, but I can't help feeling we've been had somewhere - I may be confusing it with decimalisation.
It should lead to a leaner and more customer-friendly 2011 October Sale when Tattersalls could perhaps also make the ultimate modernisation and, 40 years after decimalisation, start selling in pounds rather than guineas.