Pricing in Eighths

           Up until the year 2000, stock exchanges in the US quoted share prices in eighths. That meant the smallest increment that a stock could move was one-eighth of a dollar, nothing less. In the normal course of a trading day, one share of FedEx would trade hands at $14.125 or $14.25 but nothing in between.

The Tontine Coffee-House

           Those who know a bit about New York’s financial past have almost certainly heard of the Buttonwood Agreement. In 1792, two dozen stockbrokers signed a now famous pact agreeing to trade directly with each other, bypassing any middlemen, under a Buttonwood tree on Wall Street. This agreement standardized trading between them and is thus thought

Social Share Buttons and Icons powered by Ultimatelysocial
LinkedIn