DOLLARDE
Definition
Converts a price quotation given as a decimal fraction into a decimal value.
Sample Usage
Syntax
DOLLARDE(fractional_price, unit)
fractional_price
- The price quotation given using fractional decimal conventions.unit
- The units of the fraction, e.g.8
for 1/8ths or32
for 1/32nds.
Notes
DOLLARDE
is used to convert from prices specified on certain securities exchanges with minimal increments (e.g. 1/8 or 1/32) into decimal format. These prices may be transmitted on electronic exchanges as 100.01 for 100 1/8 or 100 1/32 depending on the system and minimal increment.DOLLARDE(100.01,8)
results in100.125
whereasDOLLARDE(100.01,32)
results in100.03125
.
See Also
DOLLARFR
: Converts a price quotation given as a decimal value into a decimal fraction.
In order to use the DOLLARDE formula, start with your edited Excellentable: