Commodity Fraction?

[John K. Taber]

I think I understand, so let me test it.

Mutual funds, for example, report shares to the 1/1000. A typical figure
is 250.321 shares for fund XYZXX. So, entering this commodity, I would
set the fraction to 1/1000.

However, money market mutual funds report shares to the hundredth (that
is, to the penny). So for money market fund ABCDX, I would set the
fraction to 1/100.

In contrast, treasury prices are tracked in percentages of $100 worth.
The latest 2 year note was auctioned at 99.973043 per every $100 worth. 
However, this is prices, not number of notes. The number of notes is
always integers, so I should set fraction to 1/1.

Do I have it now?

John

> From: warlord at MIT.EDU [mailto:warlord at MIT.EDU]
> 
> The fraction is how many decimal places the commodity can reference
> by default.  For example, the USD only has 1/100 as the smallest
> quanta you can have.   Many stocks are generally 1/1000, but sometimes
> it's 1/10000.
> 
> -derek
> 
> Quoting "John K. Taber" <jktaber at charter.net>:
> 
> > One of the fields involved in defining an investment in the
> Commodity
> > Editor is "Fraction."
> >
> > I'm baffled what to enter, and the purpose of this field.

snip