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 ?
Here (as in many other books) it is not entirely clear whether the writers advocated the adaptation of the metric ("French") system, or a decimalized system based on selected imperial units.
When compared with France, a country whose approach to accounting is generally quite close to Belgium, decimalized charts of accounts took a longer time to achieve practical application in Belgian industrial firms.
The most peculiar of these is his use of decimalized fractions to indicate beats in the bar, for example, 23.25, 23.5 and 23.75 for the second, third and fourth beats of bar 23.
Prior Return (PR) is the decimalized fund return over the prior calendar year.
I decimalized time-keeping and people still say 'wait a sec.' It makes me sick."