Designation on securities exchange tape meaning that because the tape has been delayed, some digits have been dropped (e.g., 26 1/2 becomes 6 1/2).
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On a ticker tape, an indication that only a partial quote is given. Specifically, only the final digits are listed in order to save room on the ticker tape. For example, if a quote is 54.75, it may read on the tape as 4.75 on the assumption that investors know to add $50 to the quote. Digits are deleted when the tape is late due to heavy trading volume.
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Used on the consolidated tape service to indicate that only the last digits and fractions of stock prices will be reported until further notice. Thus, what would ordinarily be reported as XOM 5s52.23 will be listed as XOM 5s2.23. Deleting digits is the first step in speeding the reporting process when the tape is late because of heavy volume. See also volume deleted.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.