----- 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