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General TradingB
Big Figure Quote
A big figure quote is a forex price quotation that omits the big figure (the leading digits) and shows only the last two or three decimal places. Dealers use this shorthand because the big figure is implied and understood by both parties in the conversation. For instance, if GBP/USD is at 1.2650, a dealer might simply quote '50' rather than the full price. This convention speeds up communication on fast-moving trading desks.
Example
“The interbank dealer quoted '45/48' for USD/JPY, omitting the big figure of 149 since both traders knew the full price was 149.45/149.48.”