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SEC might bring back fractions in stock prices

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Straight from the you-gotta-be-shitting-me department, the Wall Street Journal reports:

Regulators are thinking about bringing back the fraction.

The move would at least partly undo an 11-year-old rule that replaced fractions of a dollar in stock prices, like 1/8 and 1/16, with pennies. The idea of that change was to trim investors’ trading costs: One-cent increments can lead to narrower gaps between the prices at which brokers buy and sell shares—potentially reducing their opportunity to shave off profits.

Read the rest of the story here – most of the reasoning for going back to fractions is so mind numbing stupid, your IQ might drop just by reading it. So let me put it this way…

Written by mo

November 1st, 2012 at 9:00 am

Posted in United States

Tagged with , , ,

Spain’s Stock Exchange halted

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Due to “a technical glitch” (riiiiiiight) Spain’s stock exchange is currently down and has been for some hours now. According to a spokesman for the operator, there’s currently no estimate for the resumption of trade nor any kind if further information on the nature of the “glitch”.

Nothing to see here, move along.

Written by mo

August 6th, 2012 at 12:55 pm

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