This topic provides all permutations of fractional price type and tick size.

*For products that tick in modified fourths (30-Day Fed Funds options and Rough Rice options), the decimal ‘.5’ is implied in the price display. The Number of Decimals in Displayed Price will be sent out as ‘01’ but should be treated as ‘00’. For example, an actual price of ’12.5’ would be displayed as ‘12’ even though the Number of Decimals in Displayed price value ‘01’ normally dictates a display of ’12.5’. Therefore, client systems must include the .5 in the fractional conversion to decimal calculation for these products.

Tick Conversion Grid

The Tick Conversion Grid shows the display value for a given decimal to formatted fractional tick.

TDF = Tick Display Format

NDDP = Number of Decimals in Display Price

TDF	01	02	04	08	16	32	64
NDDP	00	01*	01	01	02	02	02	03	03	03
0			0	0	00	00	00	00	000	000
0.0078125									002	005
0.015625							01	005	005	010
0.0234375									007	015
0.03125						01	02	010	010	020
0.0390625									12	25
0.046875							03	015	015	030
0.0546875									017	035
0.0625					01	02	04	020	020	040
0.0703125									22	45
0.078125							05	025	025	050
0.0859375									027	055
0.09375						03	06	030	030	060
0.1015625									032	065
0.109375							07	035	035	070
0.1171875									037	075
0.125				1	02	04	08	040	040	080
0.1328125									042	085
0.140625							09	045	045	090
0.1484375									047	095
0.15625						05	10	050	050	100
0.1640625									052	105
0.171875							11	55	55	110
0.1796875									57	115
0.1875					03	06	12	060	060	120
0.1953125									062	125
0.203125							13	065	065	130
0.2109375									067	135
0.21875						07	14	070	070	140
0.2265625									072	145
0.234375							15	075	075	150
0.2421875									077	155
0.25			2	2	04	08	16	080	080	160
0.2578125

Fractional Pricing - Tick and Decimal Conversions

Tick Conversion Grid