On I.B. quotes,The Japanese Yen quote is: 0.0077... The double zeros is also on CME Globex quotes yesterday. Is this normal? It used to be a decimal and four digits .7708 etc. Anyway, I.B. Yen quote(data) is not useable in this form. I contacted CME,and they said it is correct. Is this correct?
Yes this has been the correct way all along, if IB has been leaving off the two "0"'s then they had it wrong (they may have been trying to make it easier for customers, but were still wrong). Let me try to explain: FOREX (cash) market currently has the USD/JPY at 130.07, to translate this to what the FOREX market would be for the JPY/USD you would divide 1 by 130.07 to come up with .007688 (or just look up a quote to be more accurate). A good currency forum you may enjoy is Global-View Examples (wouldn't use YHOO for accurate FOREX quotes): USD/JPY JPY/USD (posting this info assuming you have a grasp of the difference between cash and futures markets, can be a little confusing - especially currencies)
as long as you don´t forget that 0,77.. is the $ price for JY 100 it should be alright. btw: like many other data providers eSignal quotes the CME/Globex Yen without the double-zero too ... for easy reading purposes i presume. regards wild
Thanx for the response. How do I use I.B. for Yen quotes if the last two digits of the quote are missing?
Didn't want to start a new thread. CME to Begin Trading 13 New Foreign Exchange Contracts on May 16 To begin trading Thursday, May 16 at 8 a.m on GLOBEX®. ***Non-Dollar Cross-Rates*** Euro FX/Australian Dollar (EC/AD) Euro FX /Canadian Dollar (EC/CD) Euro FX/Swedish Krona (EC/SKr) Euro FX/Norwegian Krone (EC/NKr) Australian Dollar/Canadian Dollar (AD/CD) Australian Dollar/New Zealand Dollar (AD/NE) Australian Dollar/Japanese Yen (AD/JY) British Pound/Swiss Franc (BP/SF) British Pound/Japanese Yen (BP/JY) Canadian Dollar/Japanese Yen (CD/JY) Swiss Franc/Japanese Yen (SF/JY) ***U.S. Dollar-Based Contracts*** U.S. Dollar/Swedish Krona (USD/SKr) U.S. Dollar/Norwegian Krone (USD/NKr)