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Nasdaq Seeks Comment on Decimal Pricing

June 04, 1997|(Bloomberg News)

The Nasdaq Stock Market began seeking public comment on a proposal that could make it the first U.S. stock market to switch to decimal trading from fractions. The comments on decimal pricing of stocks--from brokerages, investors and companies--are to be considered by Nasdaq as part of a broader study that's due to lead to board recommendations by Labor Day, said Chief Executive Frank Zarb. Nasdaq, the nation's second-largest stock market, is setting a July 15 deadline for investors, brokerages and companies to comment. The survey seeks comment on the impact of decimal pricing on brokerage computer costs, professional traders' advantages over unsophisticated investors, dealer participation in the market and potential brokerage commissions. The survey results will be released through Nasdaq's Web site and by letter to brokerages, companies and investor groups.

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