fixed point vs fixed decimal

Dan Smart cppdan at
Wed Jan 8 06:01:50 CET 2003

"John Roth" <johnroth at> wrote in 
news:v1lks0heodna06 at

> "Robin Becker" <robin at> wrote in message
> news:EN6w0WAFRpG+EwB8 at
>> In article <v1k1tts6o9ta1e at>, John Roth
>> <johnroth at> 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 

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

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