(November 9 – 17:20) – The New York Stock Exchange is accelerating its move to full decimalization.

Dick Grasso, chairman of the NYSE, says that the conversion to decimal trading should be complete by the last Monday in January 2001. The schedule previously contemplated wouldn’t have seen all NYSE stocks move to decimals until late spring.

However, the NYSE now believes it will be ready earlier, on the basis of its current experience with decimalization. Earlier this week the exchange announced another that another 94 stocks are being added to the decimalization roster.

Grasso says that the NYSE is moving as quickly as possible to full decimalization because it is believed to be beneficial for investors. He says that it is too early to truly understand the impact of the transition to decimals, but that early indications suggest that spreads are narrowing on the biggest, most liquid stocks. Narrower spreads are of course believed to better for investors, and negative for brokers and other who make their living off the spread.