Re: RFC : Correcting some problems in rounding/number handling

[Jon Trowbridge]

On Fri, Jun 30, 2000 at 01:39:07PM -0500, Bill Gribble wrote:
> Clark Jones <[EMAIL PROTECTED]> writes:
> > in stockmarket quotations, e.g., nonsense like "73 213/256".  However,
> > the SEC has told the U.S. stock markets "thou shalt decimalize", and though

> Partially true, but stock prices are an important part of gnucash, and
> while the US stock exchange is going decimal "pretty soon", there are
> historical prices which will always be in 64ths and the bond market is
> not likely to decimalize any time soon (according to Jon Trowbridge,
> who does this stuff for a living; is that a correct interpretation of
> your mail to me?).

Yes.  There are also lots of other examples from futures markets,
which are a wonderful source of pricing perversity.  For example, 10yr
and 30yr US Govt Bonds trade in 32nds, and 5yr Bonds trade in 64ths.
Soybeans futures (as well as Corn, Oats and Wheat) are quoted in 1/8th
of a cent per bushel.

Maybe these markets will decimalize (as the UK govt bond market
recently did), but the historical prices will be with us forever. :-/

-JT

-- 
GNU/Linux: Free your mind and your OS will follow.


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