Decimalization and market liquidity

Craig H. Furfine

Economic Perspectives, 2003, vol. 27, issue Q IV, 2-12

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 (search for similar items in EconPapers)
Date: 2003
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