The Boston Stock Exchange Outlines Plans For Decimal Pricing

The Boston Stock Exchange (BSE) today outlined details for the first phase of its decimal conversion plan. As part of an industry-wide initiative to price stocks in dollars and cents instead of in fractions, the BSE will begin trading a select group of securities in decimals on Monday, August 28th.

The BSE will trade the following seven New York Stock Exchange (NYSE) issues and six American Stock Exchange (AMEX) issues in this first phase of the decimal switch:

NYSE Issues

Anadarko Petroleum Corporation (APC), FedEx Corporation (FDX), Forrest City Enterprises, Inc. Class A (FCE.A), Forrest City Enterprises, Inc. Class B (FCE.B), Gateway, Inc. (GTW), Hughes Supply, Inc. (HUG) and MSC Software Corporation (MNS).

AMEX Issues

eMagin Corporation (EMA), Global Light Telecommunications, Inc. (GBT), Media General, Inc. (MEG.A) ON2.com, Inc. (ONT), Pschemedics Corporation (PMD) and Regal Beloit Corporation (RBC).

The second phase of the securities industry decimalization plan is scheduled to begin on Monday, September 25th when the BSE and other participating market centers will trade an additional 50-100 securities in decimals. All U.S. listed stocks and options are expected to convert to decimal pricing by April of 2001.

A BSE spokesperson will be available on Monday, August 28th after the 4:00 p.m. market close, along with a market analyst from Adams, Harkness & Hill, to answer questions about decimalization. To schedule an onsite interview, call Josephine Finn at #235-2057.