This topic provides examples of the conversion process for CME Group products that require a decimal-to-fractional price conversion.

The following provides examples of the application of the tag 9800-PriceDisplayFormat.

Acronym Key

Tick Display Format	TDF	The fractional format for a given instrument (e.g. 32nds).
Number of Decimals in Displayed Price	NDDP	Identifies the number of decimals in the price sent by CME Globex for a given instrument. This value is a property of the tag 9800-PriceDisplayFormat for the given instrument

Treasuries

30 Yr Bonds FUTURE, TDF 32, NDDP 2

30 Yr Bonds FUTURE, TDF 32, NDDP 2
Original decimal price	115.28125
Fractional part after conversion	9 (.28125 x 32)
Integer part and fractional part	115 09
Apply NDDP of 02	115 09 ^^ 12 (Display places)
Resulting formatted price	115'09
30 Yr Bonds FUTURE with Reduced Tick Spread, TDF 32, NDDP 3
Original decimal price	115.28125
Fractional part after conversion	9 (.28125 x 32)
Integer part and fractional part	115 090
Apply NDDP of 03	115 090 ^^^ 123 (Display places)
Resulting formatted price	115'090
10 Yr Note FUTURE, TDF 32, NDDP 3
Original decimal price	112.625
Fractional part after conversion	20 (.625 x 32)
Integer part and fractional part	112 20
Apply NDDP of 03	112 20 ^^^ 123 (Display places)
Resulting formatted price	112'200
5 Yr Note FUTURE, TDF 32, NDDP 3
Original decimal price	108.109375
Fractional part after conversion	3.5 (.109375 x 32)
Integer part and fractional part	108 035
Apply NDDP of 03	108 035 ^^^ 123 (Display places)
Resulting formatted price	108'035
2 Yr Note FUTURE, TDF 32, NDDP 3
Original decimal price	104.8828125
Fractional part after conversion	28.25 (.8828125 x 32)
Integer part and fractional part	104 2825
Apply NDDP of 03	104 2825 ^^^ 123 (Display places)
Resulting formatted price	104'282

Decimal Price: 108.69921875

TDF = '32'

NDDP = '03'

Integer part is 108, fractional part is 0.69921875

Starting Fractional part	0.69921875
TDF = 32 Tick value after conversion	0.69921875 x 32 = 22.375
Strip decimal separator	= 22375
Apply NDDP	= 22375 ^^^ 123 (Display places)
Resulting formatted tick value	= 223

To display the full formatted price, append the formatted tick value, '223' to the original integer part, '108'.

Resulting full formatted price: 108'223

This example is the special case of conversion based on TDFT = '02', and NDDP = '01'. For this combination, NDDP is to be treated as '00'.

Decimal Price: 22.5

TDF = '02'

NDDP = '01'

Important

Per the exception for the combination of TDF = 02 and NDDP = 01, the NDDP is to be evaluated as 00.
Evaluated NDDP: 00

Integer part is 22, fractional part is 0.5

Starting fractional part	0.5
TDF = 02 indicates that the fractional part is base-10 so no conversion is necessary.

Resulting tick value = .5

Strip decimal separator	= 5
Apply NDDP (NDDP of 00 effectively truncates the fractional portion)	= 5 ^^ 01234 (Display places)
Resulting formatted tick value	= no value, fractional portion is truncated

To display the full formatted price, append the formatted tick value, (no value) to the original integer part, '22'.

Resulting full formatted price: 22

Original decimal price	113.5078125
Fractional part after conversion (Incorrect: decimal separator should be stripped as part of formatting the fractional part)	16.25
Integer part and fractional part (Incorrect: decimal separator should be stripped as part of formatting the fractional part)	113 16.25
Apply NDDP of 03 (Incorrect: NDDP should be applied to the start of the fractional part, not the decimal separator within)	113 16.25 ^^^^ 1234 (Display places)
Resulting formatted price (Incorrect: price should be 113'162)	11316'250