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Decimalization Reform Is Traders Strategy

Traders Magazine, June 2003

Gregory Bresiger

Security Traders Association officials want reform - not the end - of decimalization. And they haven't given up on the idea of trying to obtain some changes. They are considering authorizing an academic paper on the subject. STA officials said some federal lawmakers, who told them they had to learn to live with decimals, recently misinterpreted their stand. "We never said we wanted to end decimals. We said we'd like to look at possibly having a minimum price variation, but that doesn't mean we expect to get rid of decimals," said John Giesea, president of the STA, which represents trading professionals. He said that academic research so far has shown that decimals are also having some negative impacts.

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