More decimals! Stocks trade fractional shares

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bab9e9
Posts: 3
Joined: 24 Feb 2011, 19:05

More decimals! Stocks trade fractional shares

Postby bab9e9 » 24 Feb 2011, 19:09

Handling of decimal values must be done carefully. At the very least, you must handle variable numbers of decimal places.
Stocks are bought and sold using 4 decimal digits lately, but in the past they were done with fractions (1/64 ? I think).

Metalogic
Site Admin
Posts: 187
Joined: 20 Feb 2010, 02:37

Re: More decimals! Stocks trade fractional shares

Postby Metalogic » 03 Mar 2011, 17:29

Hi bab9e9,
Thank you for the feedback.

If I understand correctly, you are saying that the "Purchase Price" needs to be expanded to 6 decimal places to accommodate shares that were purchased prior to "decimalization" of the market. The smallest spread was 1/64 which is equivalent to 0.015625 so up to 6 decimal places would be needed. The "Last Price" does not need to change as shares today are traced in decimals with a minimum of a penny (0.01) so there is no need to accommodate more decimals for current prices.

Is that a fair summary?

All the best,
Metalogic
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