Missing Decimal Places on some US Stocks

🤝 Help
1

Hi, just a question regarding accurate pricing and quotes.

Certain stock quotes on T212 do not display the accurate decimal places, and makes trading the stock impossible.

For example, XYZ Stock on Yahoo quote:
$1.940 at Close,
$1.989 After Hours

T212: $1.93

EDIT: As of Monday morning, Yahoo now is now displaying this stock with 4 decimals, and T212 still using 2 decimals. It has not fallen below 1 dollar.

Is there a reason this HUGE discrepency is occuring? Is this intentional?
The charts end up very disparate as well, with extreme movements happening from 1 cent to the next, due to when the rounding kicks in.

Apologies if my inquiry is a stupid question, but GBX works well dealing with these kind of decimals. Is it because USD cannot be broken down beyond 2 decimal places? How do other institutions and brokers deal with this? The 3 decimal USD quotes seem to be used as a reference globally, and internally at T212. I can also see flucuations in the value of the Return gains/loss, without any actual price changes in the stock, so clearly the value is changing, relative to the minor changes of the third decimal place? ROI changes not FX…

This also causes a lot of issues with how the daily, after market percentages are being calculated for daily price movements of the stock. Making things very murky and hard to decipher.

This kind of rounding can be brutally destructive to trading these kind of stocks, and it appears that the T212 customer is not being given the actual, globally quoted stock price? I would love some clarity on this, I don’t understand why the required decimal places would NOT be included in the quote, because it really obfuscates the actual price, from a customer who doesn’t know any better?
Thank You

2

Why does it make trading the stock impossible - are your trades blocked?

Its well known 212 show Last Traded price, take it as indicative as you would trade on the Bid/Ask.

3

Hi @Dougal1984, I didnt think T212 would reply on a Sunday.

Thanks for letting me know the company’s position on this.

Thank you
Have a nice day

4

I’m not 212, just a fellow user that just understands what I signed up for (mostly) :upside_down_face:

5

Thanks for being so helpful Dougal1984, your genuine care to help others is remarkable.

6

Stocks with a price over $1 are displayed with 2 decimal places, under 1$ with 4 decimal places. That is the case in T212 intermediary and many other brokers.

1 Like
7

Thanks @Alien. Seems arbitrary at $1 - and why the sudden 4 decimals? When clearly the intermediary is CURRENTLY using the 3 decimals places already, to price the stock, except rounding it up and down instead. T212, it seems, have NOT implemented 3 decimals on the stock I am referring to, but other places like Yahoo etc, are using 3 decimals -Why is this happening?- Will Yahoo suddenly display 4 decimals if it keeps dropping? I really hope this confusion is sorted out ASAP, I highly doubt if drops to less than 1 dollar, that suddenly an extra two decimals will appear?

I just don’t understand all this variation in price

8

Furthermore, I don’t think I can use 4 decimals on a limit order below 1 dollar, so how does that even work in actual reality?

9

T212 intermediary is Interactive Brokers, and they apply the same rule. Yahoo, as I’m sure you know, is not a broker.

You can’t use a 4 decimals for a limit or stop order until the current price is under $1.

1 Like
10

Thanks for the clarity mate @Alien