ABSTRACT
D irectio n s to th e Student Throughout the history of American stock exchanges, stock prices have been quoted in multiples of 1/8 of a dollar or 12.5 cents. This tradition dates back to pre-Revolutionary days when dollar coins could be physically cut into "pieces of eight" to make change. However, foreign stock exchanges price their stock in decimal amounts with pennies being the smallest units in which they trade. American stock exchanges are increasing ly under pressure to join foreign markets in decimal pricing.
