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TZID:America/Anguilla
X-LIC-LOCATION:America/Anguilla
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DTSTART:19700101T000000
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UID:3783271:Event:685496
DTSTAMP:20260624T123039Z
SUMMARY:Stock Exchange makes cents 20 years ago
DESCRIPTION:Before April 9, 2001, when the Securities and Exchange Com
 mission ordered all U.S. stock markets to switch to the decimal system
 , prices were reported and stocks were denominated in fractions—in o
 ne-sixteenths to be exact. While it seems silly that it took so long 
 for the change to occur, the earlier technique of fractional pricing i
 s not as arbitrary as it may seem.\r\n\r\n\r\n\r\nPrior to a 2001 ruli
 ng by U.S. regulators that required U.S. stock markets use the decimal
  system, prices and stocks used to be reported in fractions—specific
 ally one-sixteenths.\r\nThat's because when the New York Stock Exchang
 e began over 200 years ago, it was based on the Spanish trading system
  made popular in the 1600s, which was based around fractions, not deci
 mals.\r\nIn Spain in the 1600s, Spanish investors traded with gold dou
 bloons, which were split in half, quarter or even one-eighth pieces so
  traders could count them on their fingers—while skipping their thum
 bs.\r\nWhen the NYSE began, 1/8 of a dollar or 12.5 cents was the spre
 ad or the smallest amount a stock could change in value; this was late
 r changed to 6.25 cents or 1/16 of a dollar to accommodate larger trad
 es.\r\n\r\nhttps://www.investopedia.com/ask/answers/why-nyse-switch-fr
 actions-to-decimals\n\nFor more information visit http://www.agilephil
 ly.com/events/stock-exchange-makes-cents-20-years-ago
DTSTART;TZID=America/Anguilla:20210409T000000
DTEND;TZID=America/Anguilla:20210409T235900
CATEGORIES:historic
LOCATION:New York Stock Exchange
WEBSITE:https://www.investopedia.com/ask/answers/why-nyse-switch-fract
 ions-to-decimals/
URL:https://www.investopedia.com/ask/answers/why-nyse-switch-fractions
 -to-decimals/
CONTACT:
ORGANIZER:
ATTACH;FMTTYPE="image/jpeg":https://storage.ning.com/topology/rest/1.0
 /file/get/3850907316?profile=original
ATTENDEE;ROLE=REQ-PARTICIPANT;PARTSTAT=ACCEPTED;RSVP=TRUE;CN="John Vor
 is, Lead Coordinator":http://www.agilephilly.com/profile/JohnVoris
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