NEW YORK (–A survey of equity block traders indicates they are extremely unhappy with the effects of the decimalization of stock quotations on block trading.

More than 80% of respondents said that decimalization has had a net negative effect on block trading, with close to 80% suggesting that decimalization be modified, according to the survey results. The survey was conducted by block trading broker Harborside+.

Of those who suggested that the decimalization of block trading be changed, 95% of respondents preferred, from a choice of two, that a minimum spread be used, such as a nickel, while 5% chose a minimum size increment for block trading.

Harborside sent the survey to 233 buy-side and sell-side block traders and got 49 responses to the question of the net effect of decimalization and to the question concerning modification of the decimalization process. Thirty-nine responded to the third question concerning ways to modify decimalization.

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