We propose a fully three-dimensional (3-D) wavelet-based coding system featuring 3-D encoding/two-dimensional (2-D) decoding functionalities. A fully 3-D transform is combined with context adaptive arithmetic coding; 2-D decoding is enabled by encoding every 2-D subband image independently. The system allows a finely graded up to lossless quality scalability on any 2-D image of the dataset. Fast access to 2-D images is obtained by decoding only the corresponding information thus avoiding the reconstruction of the entire volume. The performance has been evaluated on a set of volumetric data and compared to that provided by other 3-D as well as 2-D coding systems. Results show a substantial improvement in coding efficiency (up to 33%) on volumes featuring good correlation properties along the z axis. Even though we did not address the complexity issue, we expect a decoding time of the order of one second/image after optimization. In summary, the proposed 3-D/2-D multidimensional layered zero coding system provides the improvement in compression efficiency attainable with 3-D systems without sacrificing the effectiveness in accessing the single images characteristic of 2-D ones.