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# When did the New York Stock Exchange come into existence?

In the year 1792, the New York Stock Exchange came into existence.

# Which European country was a model for the New York Stock Exchange?

Spain was a model for the New York Stock Exchange.

# Who signed the Buttonwood Agreement?

In 1792, 24 American bankers, brokers and merchants signed the agreement which established the New York Stock Exchange.

# What was a real?

A real was a Spanish silver dollar. The real was divided into two, four or eight pieces.

# Why was the real divided into eight pieces?

Spaniards used their fingers to count, minus the thumbs.

# In 1792, on what currency was the U.S. dollar's value based?

The dollar's value was based on the Spanish real.

# What is the base of the decimal system?

The decimal system is based on units of 10. When using fingers as an early calculator, this system, unlike the Spanish system, included the thumbs.

# When stocks were priced using fractions, what was the smallest possible change in stock price?

The smallest change in stock price was an eighth of a dollar.

# What happened in 1997 to stock trading?

In 1997, with the signing of the Common Cents Pricing Act, fractions were converted to decimals.

# When did decimalization of stocks begin?

The decimalization of the stock market began in August of 2000.

# What is a stock spread?

A stock spread is the smallest amount of money a stock can change in value.

# How will decimalization change stock trading?

Decimalization will make stock prices easier to calculate.

# How does decimalization change the stock spread?

Stock spreads may be as small as one penny.

# What decimal is equivalent to three-eighths?

The decimal equivalent of three-eighths is 0.375.

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