fixed point vs fixed decimal
Dan Smart
cppdan at dansmart.com
Wed Jan 8 00:01:50 EST 2003
"John Roth" <johnroth at ameritech.net> wrote in
news:v1lks0heodna06 at news.supernews.com:
> "Robin Becker" <robin at jessikat.fsnet.co.uk> wrote in message
> news:EN6w0WAFRpG+EwB8 at jessikat.fsnet.co.uk...
>> In article <v1k1tts6o9ta1e at news.supernews.com>, John Roth
>> <johnroth at ameritech.net> writes
>> ......
>> >
>> >I don't think I've ever seen **conceptual** fixed point binary.
>> >**Implementation**
>> >fixed point binary, yes, but then it was conceptually decimal.
>> >
>> >John Roth
How about (some[1]) US fixed income trading where fixed point binary is the
law?
Dan "Doesn't write fixed income trading systems - well not often, and I
could give it up" Smart
[1] Actually still almost all[2]
[2] Until very recently pretty much all US equity and fixed income trading
was done in fixed point binary (1/32nds in the main, 1/64ths and 1/256ths
sometimes). The equity markets are now (almost) entirely decimal[3], and
the fixed income markets will likely have finished converting by the end of
the decade.
[3] With a devastating effect on spreads - previously a broker made most of
their profit on the spread[4] with a minimum of $1/32 per share - now the
minimum is $.01 per share.
[4] If you don't understand spreads, then remember the maxim: "In every
deal there is a mug, if you don't know who the mug is, it's you."
--
Dan Smart. C++ Programming and Mentoring.
cppdan at dansmart.com
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