The Toronto Stock Exchange will be the first exchange in North America to move to decimal pricing.
Under the current system, issues with prices above $5 trade in increments of one-eighth of a dollar. The exchange has not decided what the price increment will be under decimal trading, but it will definitely be smaller than the present one.
The exchange notes that a smaller spread between bid and ask prices will improve the liquidity of issues trading on the exchange and increase the trading volume.
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