DOLLARFR

Converts a price quotation given as a decimal value into a decimal fraction.

Sample Usage

Syntax

DOLLARFR(decimal_price, unit)

• decimal_price - The price quotation given as a decimal value..

• unit - The units of the desired fraction, e.g. 8 for 1/8ths or 32 for 1/32nds.

Notes

• DOLLARFR is used to convert from decimal format to prices specified on certain securities exchanges with minimal increments (e.g. 1/8 or 1/32). 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. DOLLARFR(100.125,8) results in 100.01 whereas DOLLARDE(100.03125,32) also results in 100.01.

See Also

DOLLARDE: Converts a price quotation given as a decimal fraction into a decimal value.