Journal Article
Decimalization and market liquidity
Abstract: This study examines the stocks of 1, 339 companies that began decimal trading on the NYSE on January 29, 2001. Using the price impact of a trade as a measure of liquidity, the author finds that decimalization typically led to an improvement in liquidity.
Keywords: Liquidity (Economics); Stock market; Stocks;
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Authors
Bibliographic Information
Provider: Federal Reserve Bank of Chicago
Part of Series: Economic Perspectives
Publication Date: 2003
Volume: 27
Issue: Q IV