This math scares me

John W. Baxter jwbnews at scandaroon.com
Thu Mar 15 09:03:53 CET 2001


In article <erRr6.659$lz1.20662 at ruti.visi.com>,
 grante at visi.com (Grant Edwards) wrote:

> I believe that there are plans (on some exchanges) to switch
> pricing from base-2 fractions to decimal fractions.

There is a mixture right now on NYSE (not sure about NASDAQ).  Some 
issues fractions; some issues cents.

(I haven't followed government bonds for a while...are they still 
reported as dollars and 32nds (per $100 face), with the 32nds 
represented like
   99.16
(meaning 16/32, or 50 cents)?  That one is (or was) a little hard to get 
used to

By mid April, the conversion on NYSE and I think NASDAQ is supposed to 
be complete...a bunch more issues convert any moment now.

John...whose old line brokerage firm in Ann Arbor arranged a floor visit 
to  the ASE.  I had to tag along with the firm's floor broker.  It 
was--by accident--the perfect day:  they were (almost) all dressed in 
1920s outfits rather than the required smocks, in honor of a major 
anniversary of the move of the American Stock Exchange to their indoor 
quarters from outside (on "the Curb" literally) under a buttonwillow 
tree.  Fun!!!  [My visit was in 1970 or so.]

-- 
John W. Baxter   Port Ludlow, WA USA  jwbnews at scandaroon.com



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