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An SEC Turnaround on Decimals

Traders Magazine, July 2003

Gregory Bresiger

The SEC is now ready to "listen politely" to the arguments of the trading industry on decimalization. The latest evidence of this comes in a letter - sent as Traders Magazine was going to press - from SEC Chairman William Donaldson to the Security Traders Association. After noting that a number of studies have shown that decimalization has lowered spreads, the Donaldson letter also conceded that decimalization has a down side.

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