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In the second half of year 2,000, the U.S. equity and options markets will switch to decimal pricing. Following the switch, and barring regulatory intervention, competition will likely drive the minimum price increment (tick size) down to a penny. This paper surveys the effects that trading on pennies will have on investors, dealers, brokers, exchanges, and(More)
  • L A Harris
  • 1969
In this paper we show that any Fréchet holomorphic function mapping the open unit ball of one normed linear space into the closed unit ball of another must be a linear mapping if the Fréchet derivative of the function at zero is a surjective isometry. From this fact we deduce a Banach-Stone theorem for operator algebras which generalizes that of R. V.(More)
We discuss Lagrange interpolation on two sets of nodes in two dimensions where the coordinates of the nodes are Chebyshev points having either the same or opposite parity. We use a formula of Xu for Lagrange poly-nomials to obtain a general interpolation theorem for bivariate polynomials at either set of Chebyshev nodes. An extra term must be added to the(More)
Let X and Y be real normed linear spaces and let φ : X → R be a non-negative function satisfying φ(x + y) ≤ φ(x) + y for all x, y ∈ X. We show that there exist optimal constants c m,k such that if P : X → Y is any polynomial satisfying P (x) ≤ φ(x) m for all x ∈ X, thenˆD k P (x) ≤ c m,k φ(x) m−k whenever x ∈ X and 0 ≤ k ≤ m. We obtain estimates for these(More)