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| Author: | Alexander, G.J. Peterson, M.A. |
| Title: | Implications of a reduction in tick size on short-sell order execution |
| Journal: | Journal of Financial Intermediation
2002 : JAN, VOL. 11:1, p. 37-60 |
| Index terms: | SHORT SELLING STOCK EXCHANGES USA |
| Freeterms: | TICK SIZE |
| Language: | eng |
| Abstract: | The U.S. Securities and Exchange Commission is committed to having exchanges fully implement decimal pricing by April 9, 2001, and is also considering revising the Uptick Rule. The authors consider the likely impact of the pending smaller tick size associated with decimalization on the efficacy of this rule by examining the execution quality of NYSE short-sell orders immediately before and after the tick size was reduced from 1/8th to 1/16th in 1997. |
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