----- Original Message -----
Sent: Friday, November 19, 2004 12:19
PM
Subject: [EquisMetaStock Group] RE:
Volume
Hi
Avnish,
It
is standard practice in financial data reporting that volume gets truncated by
two digits. For the 30 years I have been involved in the financial
markets that was the "norm" even before the PC when we had the old
Quotron Machines on every brokers desk. Over the last several years with
the evolution of the PC, a growing number of programs add the two zeros
to the end of volume values for you. My educated guess is that the
exchanges still report only the truncated version of volume to their data
vendors to save time and space in their data feed output (they are outputting
a great deal of data and any little time saving adds up). So it is up
to your data vendor or program to add the zeros or not.
In my experience, most do not because most of the financial world is used to
the truncated volume (old habits die hard in the financial community).
My best advice is to just use the truncated volume. As long as your use
of volume is consistently either truncated OR not truncated your results
will be exactly the same. If the issue really bothers you or you must
use both kinds of volume figures then you will have to add "x 100" when you
use volume from Reuters data. There is no fix other than that.
Actually, Reuters is stating their volume correctly according to financial
industry standard practices and your other data vendor is not when they add
the two zeros back on. Sometimes in trying to help users, they actually
make things more confusing (case in point).
If
you stick to one data feed and forget the issue you will have no
complications. If you must mix the two data feeds, it may (will) get
confusing.
Wish
I could be more help.
Best,
Larry Carhartt
Thanks Larry for your
response. I am trying to use the Reuters Datalink but the Volume data
is truncated by 2 digits by Datalink.
For example I have Apple data
downloaded with other program which shows the correct EOD volume
9,234,456.
When I download data from
Datalink the day after it shows Volume as 62,534. It should be
6,253,400.
I called Reuters help but they
say it can't be adjusted by them or the Downloader and that I have to
write a formula to fix this problem
I think there should be some
fix for this.
Did you face this problem, if
so, how did you overcome it.
Your help will be
appreciated.
Thanks
Avnish
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