The IBM 360 was delivered and came with standard sqrt and transcendental routines. They were pretty good.
Hirando Kuki at Univ of Chicago supplied another set about a year later. They were faster, shorter, and more accurate.
When IBM was designing the ACS machine they asked Kuki what he needed. He said only, round right.
The context then was round to nearest. Dynamic rounding options had not been proposed then. The 360's always rounded towards zero.