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toquoted

Decimal to fractional conversion

Description

example

quote = toquoted(usddec,fracpart) returns the fractional equivalent, quote, of the decimal figure, usddec, based on the fractional base (denominator), fracpart. The fractional bases are the ones used for quoting equity prices in the United States (denominator 2, 4, 8, 16, or 32). If fracpart is not entered, the denominator 32 is assumed.

Examples

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A United States equity price in decimal form is 101.625. To convert this to fractional form in eighths of a dollar:

quote = toquoted(101.625, 8)
quote = 101.0500

The answer is interpreted as 101 5/8.

The convention of using . (period) as a substitute for : (colon) in the output is adopted from Excel ® software.

Input Arguments

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Equity price, specified as a numeric decimal.

Data Types: double

Fractional bases used for quoting equity prices in the United States, specified as a scalar numeric.

Data Types: double

Output Arguments

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Fractional equivalent, returned as a numeric. For example, bond prices are quoted in fractional form based on a 32nd. If you see the quoted price is 100:05, it means 100 5/32 which is equivalent to 100.15625.

Version History

Introduced before R2006a