Definition of Decimalization
There was a time, not that long ago, when the major US market indices (DJIA, S&P 500 and NASDAQ) all traded in fractions.
That's right - instead of buying a stock for $30.05, you were buying a stock for $30 1/16 or $30 1/8.

At the time, federal regulators announced that the change to decimalization from fractions trading would save "ordinary" investors $3 million in commissions PER DAY.
If you were around for the "dot-com" boom in the late '90s and early '00s, then you likely remember trading your favorite stocks in fractions rather than decimals. You aren't dreaming - the change was made in 2001.
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