NASDAQ Decimal Conversion Complete

April 9, 2001 ( - Today the NASDAQ will complete its conversion to decimal trading for all equity securities traded on the exchange.

The exchange began with a pilot involving 14 NASDAQ stocks and one OTCBB security on March 12. A second group of 177 issuer companies and their associated 199 securities was converted on March 26.

The conversion to decimals from fractions was governed by the Decimals Implementation Plan For the Equities and Options Markets, submitted to the Securities and Exchange Commission (SEC) on July 24, 2000.

The New York Stock Exchange completed its conversion to decimals on January 29 ( NYSE Stocks to Trade in Decimals Monday ). However, concerns have emerged regarding trading practices on the Big Board since that time ( NYSE Pushing for “Nickelization ).

The NASDAQ Stock Market currently lists nearly 4,700 companies, with a larger dollar volume and more shares traded each day than any other US market.