Howdy, Now that the NYSE has gone to trading in decimals, does anybody actually negotiate to the penny?
While I'm afraid that my reasoning is obvious, here's why I ask anyway: Negotiating to the penny is expensive, and it may be worth a few cents to get the trade over with and move on. Once particular multi-penny spreads become popular, they should solidify into standards similar to how lawyer percentages on money awards and manager percentages become standardized. So it seems like rather than negotiating to the penny, the market should eventually gravitate to generally accepted multi-penny spreads--perhaps similar to the system that decimal trading sought to replace. Does any one know if that is happening in the market? Does any one expect it to happen in the market? If not why? -jsh ===== "...for no one admits that he incurs an obligation to another merely because that other has done him no wrong." -Machiavelli, Discourses on Livy, Discourse 16. __________________________________________________ Do You Yahoo!? Yahoo! Autos - Get free new car price quotes http://autos.yahoo.com
