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Washington Watch - Vito Wants to Avoid Decimal Disaster

Traders Magazine, February 2000

William Hoffman

New York Congressman Vito Fossella, reacting to concerns over the timetable set for introducing decimal pricing, said he still hopes to go ahead next month with congressional hearings on the scheduled July 3 switch.

"The consensus is that decimal trading is a positive advancement, but our overriding goal is to protect the safety and soundness of the markets and the investing public," the Republican congressman said in a recent statement in response to the Securities and Exchange Commission's endorsement of the markets' decimalization schedule. "The conversion to decimal trading should be done in the most responsible manner possible."

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